AMBANK TO
REVERT BY 1 DECEMBER 2007
SBEU met with
Ambank on 13 November for a final round of negotiations. After tough
negotiations we have submitted our final proposal to the management on Salary
increase, performance Bonus and annual increment.
SALARY RANGE
We are proposing
salary range to be increased by 30%
|
Grade |
Min
(RM) |
Max
(RM) |
Minimum
Annual Increment |
|
Non-Clerical |
880 |
1,983 |
72 |
|
Clerical |
1,324 |
3,323 |
116 |
|
Special
Grade |
1,668 |
4,037 |
143 |
SALARY INCREASE- 30% + 8.33%
An
employee who was in service on 31st December 2005 will be granted a
salary adjustment based on his basic salary as at 31st December 2005. The
adjustment will be implemented as follows:
(i) Salary as at 31.12.2005 x 8.33% being the
incorporation of the one months bonus factor.
(ii) The resultant total will be further increased by
30%
|
Grade |
Old SAL |
Increase
@ 8.33% |
Further
Increase @ 30% |
|
Non-Clerical |
662 |
718 |
934 |
|
Clerical |
995 |
1078 |
1402 |
|
Special
Grade |
1254 |
1359 |
1767 |
PERFORMANCE BONUS
Bonus will be
determined at the discretion of the Banks taking into consideration the
performance of the Bank and the performance of the employee. The performance of
an employee will be assessed using an open Performance Appraisal System.
Where an employee
is not satisfied with the job objectives, targets and or performance rating and
bonus payout, he may invoke the Grievance Procedure under Article 4(c) of this
Collective Agreement.
The Bank will
provide the Union with the relevant information regarding the appraisal system
used by the Bank to appraise an employee. |
|
|
PLEASE NOTE THAT THE ABOVE ARE PROPOSAL ONLY AND HAS NOT
BEEN AGREED YET BY THE BANK. We hope to have an agreement before Christmas 07.
The deal depends on all employees being SBEU members
We list below
the agreed articles that have been signed off earlier.
EFFECTIVE DATE- I January 2006
Arrears for
Salary & Overtime will be backdated to 1 Jan 2006.
HOUSING LOAN
Any loan
amount as long as monthly repayment does not exceed 75% of gross take home
salary. Repayment until retirement. This means that maximum amount of housing
loan can reach more than $300K – current = $160K.
ALLOWANCES
Subsistence
allowance - $45/$53 TO $48/$56 PER DAY
Mileage claims
– INCREASE BY 10 SEN PER KM
Laundry
allowance ($50 TO $55)
Acting -
$25per day if acting for officers
Weekend
Banking Allowance - $35 per day plus O/T
HOURS OF WORK - 5 DAY WEEK
Members
earning above $2000 who work overtime will be paid full overtime rates instead
of current allowance of $10 per hour worked. Arrears will be backdated to 1 Jan
2006.
DENTAL & SPECTACLES
Spectacle and
dental allowance of $368.00 combined so that members can have more flexible
access to these benefits.
FAMILY MEDICAL
Limit
increased to $1200 a year. Members can claim up to $300 to purchase Hospital &
Surgical insurance for their spouse and children.
TRANSFER
Banks must
agree with SBEU on a Transfer package BEFORE they can effect transfers. There
must also be a permanent housing allowance as long as employee remained on
transfer.-
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