According to Solidarity the agreement will applicable for the next three years.
Employees will be remunerated retrospectively and will also receive a once-off monetary benefit to the value of R25 046,26 (after taxation).
According to Riaan Visser, Solidarity’s industry specialist, the parties agreed that the wage component increases annually by 7% across the board, with a guaranteed increase of CPI +0,5% applicable to the third year.
Moreover, the employer’s contribution to the employee housing allowance will increase by R300 per year, thus increasing this benefit from R2 900 to R3 500 during the period of three years.
“We view this agreement in a positive light as it creates hope, security and stability for the employees over the next three years,” states Visser.
Feature image credit: Solidarity