Happy New financial year in store for TPAV members
The beginning of the new 2019/20 financial year on 1 July will see two significant benefits taking effect that will mean more money in the pockets of members – a pay rise for all members and improvements to the retirement nest eggs of members in the twilight of their policing career.
EBA pay increase
From 1 July, all members will receive an increase to their base salary of around 3.75 percent, which will be the final increase under the current EBA.
This will be the largest of the five increases provided for in the life of this EBA.
Members will also see increases to their allowances and shift penalties from July 1.
With the current EBA due to expire later this year, TPAV’s key priority for the remainder of 2019 is to negotiate the best possible improvements to members’ pay and conditions for the next few years.
With TPAV’s Log of Claims having been served on Victoria Police in late May, negotiations are now well underway towards this end.
TPAV will keep members informed of key developments around these important negotiations as they arise via our regular suite of communication channels.
A super win for TPAV members
From 1 July, a key reform to members’ super will be implemented that is designed to overcome one of the major anomalies associated with the existing ESS Super Defined Benefit scheme, while at the same time, helping to boost the retirement nest egg of members.
Members who reach their maximum 8.4 defined benefit multiple (‘max out’) will, from 1 July, receive a 3 percent contribution from the employer paid into their separate super account (ESS Plan) without having to make further contributions themselves.
This contribution will gradually increase to a maximum of 12 percent, phased in over the next 8 years (by 2026/27).
This achievement represents the successful culmination of TPAV’s 10-year campaign to rectify a glaring anomaly when it comes to our members’ super scheme.
This anomaly meant that members who previously ‘maxed out’ and chose to continue working would be disadvantaged by not being able to keep growing their super nest egg. This will change from July 1.
TPAV secretary Wayne Gatt says he’s proud to have worked closely with our emergency services union colleagues and with the state government on this important and ultimately, successful, reform over many years.
“It’s been a long and painstaking campaign, but it’s been worth the wait. This is a great win that will benefit many longer-serving members with a bigger nest egg once they retire”, said Wayne.
Other improvements to members’ super to take effect from 1 July include:
- The introduction of a ‘transition to retirement’ pension which would provide members with an option to draw upon their superannuation benefit before they fully retire from the workforce.
- Flexible arrangements for parents and carers which allow members to ‘catch up’ on their super contributions after taking periods of unpaid leave. This will better enable members to minimise the negative impact that unpaid time away from work has on the retirement nest egg of affected members.
TPAV will continue to push to improve members’ Death and Disability cover so that those who choose to work beyond age 55 will continue to enjoy the cover they need until they reach age 60. TPAV will seek to correct this anomaly as part this existing round of enterprise bargaining negotiations.