KUALA LUMPUR: More than 40,000 bank employees will get a windfall of between RM3,700 and RM12,000 each in arrears, following the conclusion of a collective agreement (CA) between the National Union of Bank Employees (NUBE) and Malaysian Commercial Banks Association (MCBA).
NUBE general secretary, J. Solomon said on Wednesday, Aug 11 part of the arrears would be paid before Hari Raya and the balance within 60 days from Tuesday, when the agreement was signed.
He described the CA effective from Jan 1 last year to Dec 31, 2011 as the "best in the history of NUBE" because it broke new grounds and employees would enjoy new benefits.
Among the new benefits were 90 days of maternity leave effective from Aug 10), cost of Living Allowance (COLA), increase in retirement age from 55 years to 57 years and medical benefits of up to RM25,000 annually extended for three years after retirement.
Other benefits would be an across the board nine percent increase in salary, 21% increase in annual increment and 20 percent increase in meal allowance. - Bernama
NUBE general secretary, J. Solomon said on Wednesday, Aug 11 part of the arrears would be paid before Hari Raya and the balance within 60 days from Tuesday, when the agreement was signed.
He described the CA effective from Jan 1 last year to Dec 31, 2011 as the "best in the history of NUBE" because it broke new grounds and employees would enjoy new benefits.
Among the new benefits were 90 days of maternity leave effective from Aug 10), cost of Living Allowance (COLA), increase in retirement age from 55 years to 57 years and medical benefits of up to RM25,000 annually extended for three years after retirement.
Other benefits would be an across the board nine percent increase in salary, 21% increase in annual increment and 20 percent increase in meal allowance. - Bernama
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