Communist Party of Australia  

Home


The Guardian

Current Issue

PDF Archive

Web Archive

Pete's Corner

Subscribe

Press Fund


CPA


About Us

Why you should ...

CPA introduction


Contact Us

facebook, twitter


Major Issues

Indigenous

Unions

Health

Housing

Climate Change

Peace

Solidarity/Other


State by State

NSW, Qld, SA, Vic, WA


What's On

Topical


Resources

AMR

Links


Shop@CPA

Books, T-shirts, CDs/DVDs, Badges, Misc


 

Issue #1610      September 11, 2013

Super increase at risk

Finance Sector Union (FSU) members and ANZ employees voted overwhelmingly last year to endorse the ANZ Enterprise Agreement 2013-14 (the Agreement) which includes a pay outcome that assumes that super contributions from the bank will go up by 0.25% to 9.5% on July 1, 2014 on its way to 12% in a few years’ time.

In the lead-up to the federal election on September 7 the leader of the Opposition Tony Abbott has said a Liberal/National coalition government will not proceed with the superannuation guarantee (SGC) increase in 2014 or the 0.5% super increase scheduled for 2015 that would take bank contributions to 10%.

This means the SGC increase from July 1, 2014 could be at risk. FSU members have already voiced concerns about how a third party could threaten provisions in the Agreement, negotiated in good faith and endorsed by an overwhelming majority.

On August 26 the union wrote to ANZ CEO Phil Chronican seeking urgent clarification as to whether ANZ intends to deliver the 0.25% superannuation increase on July 1, 2014 provided for in the Agreement regardless of whether it continues to be “compulsory” under prevailing legislation at the time it falls due.

The union says FSU members deserve to know what will happen with their super increase prior to the election on September 7.

Next article – Rinehart’s greed

Back to index page

Go to What's On Go to Shop at CPA Go to Australian Marxist Review Go to Join the CPA Go to Subscribe to the Guardian Go to the CPA Maritime Branch website Go to the Resources section of our web site Go to the PDF of the Hot Earth booklet go to the World Federation of Trade Unions web site go to the Solidnet  web site Go to Find out more about the CPA