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UNION YES NEWSLETTER

March 1999
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SBEU PUBLICATION

High Crime, Low Wages
- Who Gains?
Sarawak Labor Ordinance
Merger of Banks & Financial Institution
Increase Retirement Age
Customer First ?
Adapt or Die
Industrial Court Awards

AMBANK  Collective Agreement 2006-2008

SBEU proposes 38.33% for AMBANK members

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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