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UNION YES NEWSLETTER

March 1999
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NEWS FLASH

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News Flash 2005

10 March 2005
23 March 2005
31 March 2005
31 March 2005
28 April  2005
22 September 2005
Year 2006
Year 2007

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

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
 
 

Example of  Salary increased / mode of conversion

 

1. SALARY

  • Increase by 9% across the board

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

  • Banks to Contribute 16% of Wages to EPF

4. ALLOWANCES

  • Subsistence -$45 per day

  • Meal - $10 if work overtime for more than 2 hours

  • Laundry - $50 p.m if wear uniforms

5. SEXUAL HARASSMENT*

  • Code of conduct for prevention of Sexual Harassment at Workplace

6. LOANS/ADVANCES

  • Housing Loans of at least $160,000.00

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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