Westpac Group Workers Secure Three Years of Pay Increases
The official results of the ballot for a new Westpac Group Enterprise Agreement are in, with 90% of employees who voted, voting Yes to support the agreement.
This means that pay increases for the next three years are locked in for Westpac Group staff. Employees who are eligible to receive a fixed pay increase as negotiated in this agreement, will receive it in the first full pay period in January as outlined below:
- A 3.25% fixed pay increase for staff earning up to $82,500;
- A minimum 2.25% fixed pay increase (with discretion for more), for staff earning between $82,501 and $106,500;
- A 2% annual pool of funds to be spent on fixed pay increases for staff earning between $106,501 and $160,000. The pool of funds will be distributed based on remuneration review;
The Agreement will be lodged with Fair Work Commission for final approval. It contains a list of additional improvements such as:
Introduction of a Future of Work Role;
- Twenty (20) days paid leave for staff experiencing domestic and family violence;
- Extending RRR, procedural fairness and allowances clauses to wealth employees;
- An increase in compassionate leave from 2 days per occasion to 3 days per occasion;
Introduction of a casual conversion clause;
- An increase in paid parental leave for support carers from 2 weeks to 3 weeks.
Congratulations to everyone who participated throughout the campaign to ensure key issues of pay, job security and fairness were addressed.
Finance Sector Union
Ph: 1300 366 378