KUCHING: The Sarawak Bank Employees Union (SBEU) and AmBank (M) Bhd has signed a new Collective Agreement (CA) for the period of Jan 1, 2021 to Dec 31, 2023.
SBEU chief executive officer Andrew Lo said the agreement came after two long years of tough negotiations which was delayed by the COVID-19 pandemic.
He said the CA provides for the terms and conditions of employment for non-executive employees Grades SS1, SS2 and SS3 of AmBank who are represented by SBEU.
“With the new CA, SBEU members enjoy an increase of 8 to 15 per cent in salary equivalent to an additional RM406 to RM1,026 a month. Salary range is now from RM1,945 to RM7,503.
“Arrears on wages, estimated to be between RM10,000 and RM19,000 for each employee, will be back dated to Jan 1, 2021 and will be payable by March 31, 2023,” he said in a statement here, today.
Lo said another breakthrough feature in the CA includes the incorporation of the Sarawak Allowance into salary.
“It will mean that bonus is based on gross salary, no longer basic. This translates into 3-6 per cent higher income for our members each year.
“The CA has also incorporated performance-based bonus and annual increment,” he added. – BERNAMA
