07 March 2003
SCBA PROPOSES 2.4% SALARY INCREASE
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Performance Related Pay
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5 SEN Increase In Mileage Allowance
1st ROUND ON 19 & 20 March 2003
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2.4% - That is what the Banks have proposed to increase the salary of bank employees. This is despite Maybank paying $1.2 Billion dividend to share holders, Public Bank announcing record profits and Sarawak recording a a GDP growth of 7%, amongst the top 10 countries in the world.
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Another significant development is that NUBE is unable to commence negotiations with MCBA for employees in West Malaysia. SBEU has to take the lead, and whatever we decide may affect bank employees throughout Malaysia. |
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Below is difference between SBEU & SCBA proposals: Please note that nothing is finalised yet and the proposals that have yet to be agreed by SCBA or SBEU |
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| BENEFITS | SBEU'S PROPOSAL | SCBA PROPOSALS |
| SALARY | Increase by 30% across the board Annual increment at least 6 % |
INCREASE BY 2.4% |
| BONUS | To include Sarawak Allowance | No Improvement |
| RETIREMENT BENEFITS | 18% of Wages (present 16%) Retirement Age increase to 60 years; |
No Improvement |
| TRANSPORT ALLOWANCE | Increase by 25 sen per KM | Increase by 5 sen per KM |
| SUBSISTENCE ALLOWANCE | From $40 to $60 per day | No Improvement |
| ACTING ALLOWANCE | $50 a day for acting a higher position | No Improvement |
| MEAL ALLOWANCE | Increase from $10 to $20 | No Improvement |
| LOANS | Housing Loans of at least $160,000.00 Vehicle Loan - 36 months gross salary. Computer Loan - Interest free $5000 |
Housing Loan increase by $2400 to $122400. |
| TRANSFER ALLOWANCE | Housing Allowance at least $550 a month, Relocation expenses of $5,000. Return Airfare twice a year for family | No Improvement |
| FAMILY MEDICAL BENEFIT | Full Medical Benefits to cover parents Limit increase to $3000 from $1000 p. a. |
No Improvement |
| DENTAL BENEFIT | Increase from $200 to $400 per year | No Improvement |
| MATERNITY BENEFITS | Pre-natal and post natal care to be included Delivery charges from $500 to $1000 per confinement |
No Improvement |
| CHILDCARE ALLOWANCE | Increase from $600 to $1200 per year Include male employees |
No Improvement |
| SICK LEAVE | Reduce Sick leave from 25 calendar days to 20 days but increase hospitalisation leave from 35 days to 40 days | AGREED |
| INSURANCE | Death increase from $120,000 to $200,000 | No Improvement |