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AMFINANCE MEMBERS TO GET
20%* SALARY INCREASE
Arrears backdated to 1 Jan 2003 to be paid by 1 May 2005
Annual Increment and Bonus to be decided by court
We DID it! Finally SBEU members in AmFinance Bhd will get to enjoy benefits under a Collective Agreement that is similar to the rest of the Banking Industry.
Apart from the 9% salary increase, Am Finance members will also get the Sarawak Allowance that range between 15 to 25% of their salary. Currently they are paid $100. All in all they will get a real salary increase of 20%* OR MORE (see table)
These benefits were agreed between AMFINANCE and SBEU in an interim Award handed down by the Industrial Court today. It will be implemented WEF 1 April 2005.
The remaining two articles on annual increment and bonus remains in dispute. Both sides agreed that this shall be decided by the court. The Court has fixed hearing on 24 & 25 August 2005.
Below is a summary of some of the benefits: They are not exhaustive. We will forward the full Agreement to members in due course |
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Example of Salary increased / mode of
conversion
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1. SALARY
2. SARAWAK ALLOWANCE
SALARY
%
BELOW $623
25
$623 TO $872
22.5
$873 TO $1428
20
$1429 TO $2853
17.5
$2853 TO $4839
15
3. RETIREMENT BENEFITS
4. ALLOWANCES
5. SEXUAL HARASSMENT*
6. LOANS/ADVANCES
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7. SPECTACLES
- $158 for 1st time and $105 for change of lenses
8. MEDICAL BENEFITS
- Full Medical Benefits for employees including specialist treatment- no limit
- Medical Benefits for spouse and children under 18 yrs. Limit $1100 per year
- Dental benefits - $200 per year
9. MATERNITY BENEFITS
- Delivery charges of $500 per confinement.
10. CHILD CARE ALLOWANCE
- $600 per year for female employees with children below 7 years
11. SPECIAL LEAVE
- Marriage Leave -10 daysC
- Compassionate Leave - up to 10 days
- Paternity leave - 3 days
ANOTHER ACHIEVEMENT BY SBEU
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