Application for approval of the Suncorp Bank Enterprise Agreement 2025

[1] Norfina Limited (Employer) has made an application for approval of an enterprise agreement known as the Suncorp Bank Enterprise Agreement 2025 (Agreement) pursuant to s.185 of the Fair Work Act 2009 (FW Act). The Agreement is a single enterprise agreement.

[2] The Employer provided written undertakings. A copy of the undertakings is attached in Annexure A. I am satisfied that the undertakings will not cause financial detriment to any employee covered by the Agreement and that the undertakings will not result in substantial changes to the Agreement. The undertakings are taken to be a term of the Agreement.

[3] Subject to the undertakings referred to above, I am satisfied that each of the requirements of ss.186, 187, 188 and 190 of the FW Act are relevant to this application for approval has been met. In coming to this conclusion, I have had regard to the material contained in the application, the accompanying declaration, the responses to issues identified, and the Statement of Principles.[1]

[4] To the extent that the Agreement may be inconsistent with the National Employment Standards (NES), I am satisfied that the more beneficial entitlements of the NES will prevail where there is an inconsistency between the Agreement and the NES having regard to clause 1.7, Schedule 6, and the undertakings provided by the Employer.

[5] The Finance Sector Union of Australia (FSU) has given notice under s.183 of the FW Act that it wants the Agreement to cover it. In accordance with s.201(2), I note that the Agreement covers the FSU.

[6] The Agreement is approved and, in accordance with s.54 of the FW Act, will operate from 21 October 2025. The nominal expiry date of the Agreement is 30 September 2027.

[1] Fair Work (Statement of Principles on Genuine Agreement) Instrument 2023.

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