Tuesday, 24 May 2022

Aware Super bargaining update

CPSU NSW and CPSU Victoria have spoken with Aware management in the final stages of bargaining. Parties have been seeking to marry agreements from several industry super funds including SPSF, VicSuper, and Aware, while maintaining or improving pay and conditions across each group of staff. After two years of bargaining, parties have all but reached an agreement.

Parties have found the conditions of the proposed agreement to be favourable, but are still considering a proposed three per cent per annum salary increase over the life of the three-year agreement, irrespective of performance incentives. In light of the eye-watering inflation rate, unions at the bargaining table went back to management insisting on more for our members. Among the ideas proposed was frontloading the salary increase – such as four per cent in year one, three per cent  in year two, and two per cent in year three . However, ultimately parties agreed on a one-time cost-of-living payment to be paid as soon as possible as it benefits members the most now without taking anything away from them in the future.

The one-off payment, when factored in to the first year salary increase, amounts to a 4.54 per cent total salary increase for those on $65,000 per year, and a 4.18 per cent salary increase for those on $85,000.

Members are feeling stressed by the cost-of-living increase. The hope is, upon approval of this Enterprise Agreement, we can get members the influx of cash they need for expenses now. While we would not normally be in favour of a one-off payment, this time we expect the financial pressures to ease over the coming years with the recent change of government. Members will still be entitled to performance bonuses, but the three per cent incremental increase will assist with the cost of living going forward.

If you have any questions, please direct them to you Industrial Officer, Elise Esquenazi by calling 1300 722 679. If you are not yet a member, join today at