Issue 11 - 2017 Wage Negotiations Update

The SEIFSA Council today received a report that the industry is inching closer to approving a Settlement Agreement that is likely to see all the trade unions agreeing to a Settlement Framework that will bring this year’s negotiations to a successful conclusion, avert industrial action and lay the groundwork for industrial peace and stability up to 30 June 2020.
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All the trade unions and the SEIFSA-affiliated Associations have requested time to communicate the proposed deal to their respective constituencies and will revert with their respective positions in the course of this week. The Settlement Framework comprises:​

• A three-year Agreement effective from 1 July 2017 to 30 June 2020;
• A collective undertaking by all signatories to seek the extension of a Consolidated Main Agreement to all non-party employers and employees;
• The retention of Clause 37 and the Full and Final Settlement Clause locking in all terms and conditions of  employment contained in the Main Agreement for the duration of this Agreement;
• A wage model that introduces wage increases, on actuals, across the board (i.e. from Rate A to H) of 7% in 2017, 6,75% in 2018 and 6,5% in 2019; and
• A joint commitment to continue discussions, during the currency of this Agreement, on a range of strategic and vitally important industry issues.

We expect the formalities relating to the ratification of the Settlement Agreement to be concluded in the course of the next week to ten days.
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Once all parties have ratified the Settlement Agreement, the SEIFSA Office will immediately circulate the Wage Tables and post them on our website (www.seifsa.co.za). A comprehensive Management Circular will follow thereafter.
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We will continue to keep you and the SEIFSA Council informed of  any developments, should there be any, in these engagements.