AustralianSuper declined to comment on FSU`s communications, but its 2019-2023 corporate agreement confirms that it approved new pay conditions in December 2019. Julia Angrisano, fsu national secretary, said all the highlighted wage increases were the result of company agreements negotiated by the union. A spokesperson for Hostplus confirmed that the Fund recently updated its corporate agreement with permission from the Fair Work Commission. The Fund`s staff benefit from a “competitive salary increase of 3.5 per cent over the previous year” in addition to “increased rights to caregivers, parents, compassion and domestic violence” and paid civilian service leave. FSU`s Angrisano said negotiations with Hostplus were followed by concerns from the union that it was “lagging behind” its industry-funded colleagues when it came to compensation for its employees. Tier 1 directors will increase their salaries from US$63,261 in July 2019 to US$70,139 in July 2022, indicating an additional 6878 $US in their pockets. At the other end of the spectrum, the additional salary for Level 12 “skilled employees” will rise to nearly $20,000 over four years. All “unpackaged” employees – or at or below level 12 of the company`s pay scale – will receive a 3.5 per cent increase on July 1, 2019, followed by increases of 3.5 per cent per year until July 1, 2022. In a letter to members on Tuesday, seen by The Australian Financial Review, the Finance Sector Union trumpeted “wage gains” over the past 12 months, three of the largest participants in the $3 trillion mandatory pension system led the table of employee pay increases. The promised wage increases in the pension sector contrast with the Reserve Bank of Australia`s base forecast that overall wage growth is expected to fall to 2 per cent in June, compared to the previous forecast of 2.2 per cent. It is expected to continue to decline by the end of the year before returning to 2% by 2022. Employees at the country`s largest superfund, AustralianSuper, receive 14 percent pay raises over four years, while employees at the $52 billion HESTA health fund will receive a 12 percent raise over the same period, the FSU says. .