As of September 30, 2024, the VECTEA 2020 officially reached its nominal expiry date and entered an important re-negotiation ‘transitional’ period.
In this article, we address common questions regarding the re-negotiation period for the VECTEA 2020:
What is a nominal expiry date?
Enterprise agreements (sometimes called enterprise bargaining agreements) can be set for up to four years and must include a nominal expiry date.
A nominal expiry date serves as a reference point for the duration of the agreement but does not mean that the agreement ‘expires’ on this date. Instead, enterprise agreements continue to be effective after their nominal expiry dates until they are either replaced or terminated by the Fair Work Commission.
In practical terms, this means that all salaries, terms and conditions of VECTEA 2020 will remain in effect, until its replacement agreement, the VECTEA 2024, is approved and operational.
When will the next VECTEA 2020 wage increase occur?
There are no further wage increases scheduled under Schedule 2 of VECTEA 2020. <span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":6,"335551620":6,"335559738":0,"335559739&(...)
