24 November 2006

New Collective Agreement 2006-2008

Slight  IMPROVEMENT

SCBA PROPOSES  5% + 2% SALARY INCREASE - SBEU WANTS 10% + 10%
 

After another round of tough negotiations on 20 & 21 November, SCBA has improved their offer to SBEU.  They now agreed to a salary revision of 5% plus another 2% salary adjustment.  This means that the salary range would go up by 5% while members will get a salary increase of 7% 

This is an improvement of their offer of a paltry 5% salary increase for its employees during the last round. 

However SBEU strongly feels that this latest offer is inadequate and reflect the banks’ refusal to share the billions of ringgit of profits they are making.

We want Salary Revision of 10% plus adjustment of another 10% 

Non CLERICAL 

SCBA has agreed in principle to upgrade the job functions of non clerical (office boys) to include some clerical functions so that we can upgrade the value of the job to enable us to increase the salary band of the non- clerical.   

PERFORMANCE PAY SYSTEM (PPS) 

Framework on PPS being finalised to facilitate those banks that are ready to implement a robust, transparent and equitable PPS. 

It is surprising and disappointing to note that some member banks of SCBA do seem very keen on PPS. They only want to implement their own system at their sole discretion. It is hoped that such regressive banks are in the minority. 

TRANSFER 

SCBA also agreed to a framework that banks must pay a monthly housing allowance if they transfer employee outside their home base.

HOUSING LOAN 

Any loan amount as long as monthly repayment does not exceed 75% of gross take home salary. This means that maximum amount of housing loan at current salary levels would range from RM130K to about 290K - a major increase from the existing $160K.  

However SCBA has rejected our proposal to cap the interest rate at 2.5% and to allow progressive repayment. 

HOURS OF WORK-5 DAY WEEK 

This article is resolved with SCBA agreeing to remove the overtime cap on those earning above RM2000  wef 1 Jan 2006, and to pay a Sunday banking allowance if banks require members to open branches on Sundays and to pay overtime if required to open Branches on Saturdays. 

ALLOWANCES 

SCBA agreed to increase most allowances in tandem with the salary increase of 5% 

DENTAL & SPECTACLES 

Agreed to combined the spectacle and dental allowance so that members can have more flexible access to these benefits 

FAMILY MEDICAL 

SCBA also agree to allow members to make use of the family medical entitlement to purchase medical insurance for their spouse and children. 

Major Outstanding issues:

v       Retirement age & EPF contribution. 

The next round will be on 18 & 19 December 2006.  SBEU has informed SCBA that we need to reach agreement by that date failing which we may declare a deadlock and take necessary action. 

The support of members will determine whether we can get what we want.