Acenda has rejected Finance Sector Union claims that employees will be worse off under its proposed enterprise agreement on salary and other work-related contract terms.

The union says staff would be “paid less, stripped of basic leave entitlements and given watered-down redundancy clauses” if the agreement went ahead.

It has urged its Acenda members to vote against the agreement and called on management to work with employees on a better offer.

But an Acenda spokesperson says the life insurer engaged in a “comprehensive and good-faith bargaining process including extensive engagement with employees” when developing the agreement.

“The Finance Sector Union … does not accurately reflect Acenda Life’s proposed enterprise agreement,” the spokesperson told insuranceNEWS.com.au. “The proposal put to employees reflects a balance of fair and competitive outcomes for our people and the long-term sustainability of the business. It includes defined pay increases, ongoing annual remuneration reviews, and retains redundancy entitlements for existing employees.”

The union says the proposed agreement would mean less than half (47%) of Acenda staff would be guaranteed a pay rise; many would lose rostered day-off entitlements; there would be no guarantees regarding hybrid work arrangements; and new starters would be worse off when it comes to long-service leave and redundancy provisions.

Acenda says flexible working remains a core part of how the company operates.

“Our policies have not changed and continue to support flexibility, while also ensuring our people have opportunities for connection, development and collaboration needed to perform at their best.”