Acenda in the hot seat over enterprise agreement

The Finance Sector Union (FSU) has urged the employees of life insurer Acenda to reject an offered enterprise agreement that would see themselves "paid less, stripped of basic leave entitlements and given watered-down redundancy clauses."

The FSU said the offer follows the axing of 280 jobs at the company in the last 18 months and received claims some staff haven't received a pay rise in seven years.

According to the proposed agreement, less than half (47%) of Acenda staff would be guaranteed a pay rise.

"... many would lose rostered day off (RDO) entitlements, there would be no guarantees regarding work from home or hybrid work arrangements and new starters would be worse off when it comes to long service leave and redundancy provisions," the FSU said.

The enterprise agreement is the first for Acenda since it was created through the merger of MLC Life and Resolution Life in October 2025.

The FSU is now calling for an improved offer that ensures the mentioned issues are rectified. The ballot begins next week and runs until June 26.

Commenting, FSU national secretary Julia Angrisano said the latest agreement forces employees to choose between "arduous commutes or leaving the business."

"Acenda was once the industry leader in its flexible work arrangements and attracted staff from the regions with the promise that they could work from home," Angrisano said.

"This will in turn make it harder to attract top talent and ultimately dilute outcomes for customers, many of whom turn to Acenda for help after the loss of a family member.

"Acenda's workforce is better than the value the company is placing on them and they deserve an agreement that reflects the reality of the modern workplace."

Anonymous quotes from Acenda workers, obtained by the FSU, said: "I moved from Sydney to a regional town because Acenda promised me that I would have that flexibility. Now I am being told I need to go back into the office I am being faced with a choice of leaving my job or leaving a place where I have community."

"I haven't had a pay rise in three years, and I know people who haven't had a pay rise in even longer. The proposed agreement won't guarantee me a pay rise, it makes me feel that Acenda doesn't value my skills.

"Being able to have rostered days off helps me be able to spend time with my partner and children. To take that away for a pay rise that probably is not going to be higher than inflation is not good enough."

An Acenda spokesperson told Financial Standard the FSU statement does not accurately reflect its proposed enterprise agreement.

"Our proposed agreement has been developed following a comprehensive and good faith bargaining process, including extensive engagement with employees through multiple information sessions and feedback channels," the statement read.

"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.

"Flexible working remains a core part of how we operate. 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."