As part of the agreement, ANZ employees will receive an average 3.5% salary increase in 2012 and 2013, which includes superannuation contribution increases of 0.5% for both years. High performing employees will be eligible for salary increases of up to 6.5% in 2012 and 5.75% in 2013.
ANZ CEO Australia, Philip Chronican, said: “This is a fair agreement that is relevant to the times and meets the needs of our people and customers particularly through the maintenance of flexible working hours in our branches. It retains the key employment terms and conditions our employees value, while providing additional rewards, benefits and flexibility.”
The agreement covers approximately 21,000 employees and replaces the existing ANZ Collective Employment Agreement that was negotiated with the FSU and approved by employees and Fair Work Australia in 2010.
Eligible employees will vote on whether to accept the deal between 17 and 20 December 2012 and if approved, salary increases will be backdated to 5 October 2012.