A Better Way CBA

EA 2016

CBA’s Proposal for EA 2016

Authorised by Geoff Derrick, National Assistant Secretary August 2016

CBA has proposed a new Enterprise Agreement for 2016. This is a crucial first step in delivering on our Charter for “A Better Way CBA” and will also address some of the concerns raised through the FSU’s Audit Report, “Pay at CBA”.

CBA’s Proposal• In the 2016 EA CBA propose that the EA will provide a 3% base pay increase

on or about 29 September 2016 backdated to July 1 for employees whose pay is regulated by the EA; and

• The 2016 EA will remove the link between base pay and performance for the employees whose pay is regulated by the EA subject to the employee meeting minimum behaviour and compliance standards

CBA’s ProposalThe 2016 EA will contain minimum rates of pay that meet the requirements of the Fair Work Act. The new EA rates are published on the back of this page.

The 1st Action required by CBA was that CBA must commit to the abolition of the link between targets and pay. In doing so the bank must ensure that those staff who have come to rely on these payments, have their living standards protected.

The 2nd Action required by CBA was the bank needs to immediately update the expired CBA Group Enterprise Agreement 2014 with minimum pay rates that meet the standards of the Fair Work Act and reflect the leading position of the bank.

A Better Way CBA

EA 2016

CBA’s Proposal for EA 2016 (con’t)

New EA Rates

Commonwealth Bank of Australia Classification

2016 EA minimum salary

GC1 $ 43,420 GC2 $ 45,392 GC3 $ 47,779 GC4 $ 50,167 AMA $ 58,761 AMB $ 62,904 AMC $ 67,260 AMD $ 71,821 MA $ 83,576 MB $ 91,411 MC $ 102,296

Colonial Services Pty Limited Classification 2016 EA minimum salary

A 18 years of age $ 33,250 19 years of age $ 38,000 20 years of age $ 42,749 21 years of age and above $ 47,500 B $ 51,500 C $ 65,987

Commonwealth Insurance Limited Classification 2016 EA minimum salary Support Team Employees

Trainee $ 41,000 Grade 1 $ 41,000 Grade 2A $ 45,000 Grade 2B $ 47,500 Other $ 47,500

ConsultantsConsultant Trainee $ 41,000 C1 $ 48,000 C2 $ 49,000 C3 $ 50,000

Support Team LeadersS1 $ 51,660 S2 $ 54,459 S3 $ 55,915

Team LeadersT1 $ 58,714 T2 $ 62,063 T3 $ 64,069

Commonwealth Securities Limited Classification

2016 EA minimum salary

Non-shiftworker Shiftworker CS1 $ 47,500 $ 54,625 CS2 $ 51,500 $ 59,225 CS3 $ 58,897 $ 67,731