Wed 03 Jun 2015
Get set for a 2.5% wage increase on 1 July 2015:
The Fair Work Commission’s (FWC) Expert Panel today handed down its decision in the Annual Wage Review 2014-2015 which is to award a 2.5% increase to the Federal Minimum Wage and award rates effective from 1 July 2015.
This means that the Federal Minimum Wage will become $656.90 per (38 hour) week or $17.29 per hour, an increase of 42 cents per hour.
The Fair Work Commission will now move to amend the 122 current modern awards to increase wage rates and, where applicable, allowances accordingly.
Businesses which have enterprise agreements or employment contracts which provide for annual adjustments in line with Minimum Rates decisions of the Fair Work Commission or those who have employees on or just above award rates will need to make pay adjustments from 1 July 2015.
For businesses which use contractors, there is also a need to verify that contractual terms would enable compliance with awards by both the principal and the contractor.
Once the Building and Construction General On-site Award has been formally varied by the FWC, CCF Vic will produce the Wage Update via e-news.
For more information about any of the above, please contact CCF Industrial Relations Advisor, Peter Maguire from Ridgeline HR on 0438 533 311 or contact CCF direct on (03) 9822 0900.