Thanks AF. Base wage for year one is correct but it will go up 6% in the second year so the numbers would stack up a little different.
The interest on backpay would certainy be one that could be calculated to see how much they pocket.
Ok SpannerTwister you wanted some answers and I won't use the same level of sarcasm, will just give it to you straight.
Post how this extra one service point does not help those members who need TRAINING points to advance.....
I won't do that. It does help them to a lesser extent. When they train (ha ha) they will most likely be able to advance as spots are being opened in the upper levels. They would not have been able to previously. One level at lvl 13 is 4.28% on top of the 3% for that year.
We may all laugh at the lack of training now but for those who have been around a bit longer we can make some assumptions. Bean counters like M come in and make grand statements about not requiring overtime or training. They invariably always get it wrong because they don't know the industry. ST - do you think that 24 A380 LAMEs worldwide will be enough to take care of the new aircraft? I think more training is on the way.
Post how this extra 1% super helps those in division 6 ALREADY getting 10%....
Ok I will. My understanding is that they would now get 11%. Still working on final words in the Agreement.
Post that the members who choose to salary sacrifice their Super will be paying contributions tax, and with the tax rates being much lower then previously, the great savings aren't there....
I'd be a little more accurate. Top tax bracket for most is 40%. Super contribution tax 15%. You will save 25% or 1/4 of your 5% compulsary contribution which is a 1.25% saving.
Post how much QF saves in payroll tax for each member who chooses to salary sacrifice their Super....
I could care less how much it costs or saves Qf. Intersted in getting more money in your pocket or super.
Post how one point which gets members their level increase in three years instead of four years helps pay their mortgages now ....
It doesn't. It helps them in 3 years time. Remember if they are level 3-4 they will get a 7.5% wage rise one year early and can put that on their mortgage then. 7.5% for one year in four, 7.3% for one year in four when he goes to the next level one year early and so on. This one point brings on your new level early every year even beyond the end of the agreement until you cap out. I'm sure you home loan is not a one year length, we have also looked at long term for wage boosts.