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Old 23rd Jul 2008, 01:14
  #4005 (permalink)  
ALAEA Fed Sec
 
Join Date: Nov 2007
Location: Bexley
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WORST CASE GRADE 11 SCENARIO
Your figures are a bit wrong there mate. You have failed to factor in the expansion of the difference in the upper grades that ensures that nobody gets less than the 16% over 4 years regardless of their level.

70% of LAMEs are still on defined benifit schemes and at level 11, most are long serving employees who have stayed on their original scheme. At level 11 we estimate that 90% will benifit from the taxation savings on super that puts an additional hit of 2.2% on top from the date of lodgement. Averaged over 4 years this gives 4% plus .55% total 4.55%pa. 19 members will not get the super hit thus get the bare bones 4% unless they are new employees who get 1% extras super straight up.

Some members at other levels will also get the bare bones 4 but please remember that we inherited a system that had built in caps and not every problem will be fixed at once. More members will exceed 5% pa because of this EBA than those who will get 4% pa. Those who get 4% are now going to be more likely to move up if they get training.
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