Sasbo the Finance Union has reached a settlement with Standard Bank South Africa on salary increases for 2015. In terms of the agreement, an 8.5% salary increase will be awarded and a recommendation will be made to the bank’s Remco for the payment of a 7% discretionary bonus. The Union is happy with this settlement as the salary increase is in excess of inflation, giving a real increase in expendable income for its members. The payment of a bonus will make the reward even better for finance workers who have been under tremendous pressure over the past number of years. Sasbo is currently also in salary negotiations with Nedbank and Absa, but settlements have not yet been reached.
Source : Congress of South African Trade Unions