ANZ PNG signs new union agreement

​ ANZ PNG has signed a new agreement with the PNG Banks & Financial Institution Workers Union.

Benefits under this new agreement include:

  • A 10% increase to salary budget payable over the next 2 years with average salary increases of up to 6%;
  • Significant increases for key allowances such as Domestic Travel, Meals and shift work allowances
  • An increase of five days paid annual leave to non-managerial staff so all staff now receive 20 days paid annual leave irrespective of position;
  • Introduction of three days paid paternity leave for male employees;
  • Housing Grant now accessible to all eligible employees;
  • Three months paid maternity leave for all female employees.

ANZ PNG CEO Mark Baker said: “ANZ is fully committed to the wellbeing of our people. Given the challenging economic environment in PNG, and to ensure the business aligns with best practise across ANZ Group, this was the right thing to do. The benefits are significantly better than what was outlined in the former agreement in place since 2004.

“I commend all parties – our people, the union and the working committee at the Bank who worked tirelessly over the past year to drive such a positive outcome. While the bargaining process had taken longer than anticipated, union representatives were careful in ensuring staff provided a mandate for change,” Mr Baker said.

PNG Banks & Financial Institution Workers Union commended ANZ for working with the union to implement a revised collective agreement which is best practice, improving conditions for its members significantly.

Union General Secretary Vera Raga said: “ANZ has demonstrated leadership in this trying economic climate and the Union is confident of continued sound industrial relations between the parties in the best interest of their constituents and key stakeholders.”

An objective of the review was also to eliminate any provision that may be perceived as discriminatory, for example all references to a prescribed retirement age have been removed from the agreement.

The signing of the agreement occurred at ANZ PNG Headquarters in Port Moresby with management of ANZ Bank and the ANZ Branch of the PNG Banks & Financial Institution Workers Union present.

The new agreement for all national employees of ANZ PNG has been effective since 1 September 2017.

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