MA000019Fully builtEffective 1 July 2025

Banking, Finance and Insurance Award

Covers the Australian banking, finance and insurance industry - banking, lending, investment, superannuation, all forms of insurance, credit unions, building societies, financial intermediaries, trustee and agency services, money market dealers, and credit / charge card institutions. Six classifications from Level 1 to Level 6, with Level 2 ($1,068.40 / week) as the standard rate. Built around a narrow span of ordinary hours (Mon-Fri 7am-7pm + Saturday 8am-noon, plus one weeknight up to 9pm specified in advance by the employer), a substantial annualised wage option for full-time employees, six default super funds (the most of any award we've audited), and weekly / fortnightly / monthly pay frequency support.

Fully built. Rates, allowances, penalties and any required apprentice / junior rates are all wired to the rate resolver and have been verified against the consolidated award text and the latest pay guide.

What's built

All 6 cl. 15.1 classifications - Level 1 ($978.20) → Level 6 ($1,381.20). Level 2 is the standard rate per cl. 2.
Junior rates per cl. 15.2 - under-17 / 17 / 18 / 19 / 20 at 50 / 60 / 70 / 80 / 90% of the relevant adult rate. Applied across all 6 classifications (30 dimensional rate rows).
Span of ordinary hours - Mon-Fri 7am-7pm + Saturday 8am-12pm. One night per week ord hours may extend to 9pm if specified in advance by the employer (cl. 13.1).
Work cycle options - 38 / 76 / 114 / 152 hours over 1 / 2 / 3 / 4 weeks (cl. 13.2). 'Week' = 5 consecutive days Mon-Fri OR 5.5 consecutive days Mon-Sat.
Make-up time framework (cl. 13.5) - employer + majority can establish; employee elects with employer consent to take ord hours off and work them later. Shiftwork make-up at the shiftwork rate.
RDO flexibility framework (cl. 13.6) - any-time RDOs by mutual agreement, part-day RDOs, accrual to a 'bank' drawn upon by mutual agreement.
Shift loadings - early morning (commences 4am-7am) 112.5%, afternoon (finishes 6pm-midnight) 120%, night (finishes midnight-8am) 125%. Permanent afternoon / night shiftworkers receive an ADDITIONAL +5% on top (=125% / 130%).
Thirteen cl. 18 allowances - first aid ($19.66 / week), stand-by ($22.65 weekday / $46.26 weekend per day), stand-by recall fares + business calls reimbursement, higher duties (4-consecutive-day threshold), meal-OT ($21.27 + $17.48 second), travel expenses reimbursement, travel time at HALF ord rate, motor vehicle 1500cc and under ($128.95 / week) / over 1500cc ($159.07 / week) / casual-incidental ($0.99 / km).
Six default super funds (cl. 19.4) - CareSuper, AustralianSuper, Australian Retirement Trust, HESTA, HOSTPLUS, NGS Super (PR794717 ppc 23 Jan 2026).
Overtime - Mon-Sat outside ord hours: first 3 hours 150% / after 200% (FT/PT) and 175% / 225% (casual, inclusive of 25% loading per cl. 20.1 NOTE 2). Saturday outside weekly hours and all Sunday at 200% / 225%. Public holiday 250%. 20-min paid OT rest break after 5 hrs (cl. 20.4(a)).
TOIL hours-for-hours (cl. 20.5(d)), 6 months to take, pay-out at termination. 10-hour minimum rest after OT (8 for shiftworker per cl. 20.6(c)); fail-to-rest 200% (cl. 20.6(b)(ii)).
Stand-by recall - minimum 2 hours at OT rate, including journey home-to-work-to-home time (cl. 18.3(b)). Public transport / approved-taxi fare reimbursement; business calls reimbursement.
Annualised wage arrangements (cl. 17) - full-time only. Covers cl. 15 minimum rates, cl. 18 allowances, cl. 20 overtime, cl. 21 penalty rates and cl. 22.3 annual leave loading. Outer-limit ordinary and OT hours required in writing. 12-month reconciliation with 14-day shortfall pay. Time records and employee acknowledgement each pay period.
Pay frequency - weekly / fortnightly / monthly (monthly only by mutual agreement, on basis of 2 weeks in advance + 2 weeks in arrears per cl. 16.1). Cash, cheque or EFT permitted. Termination wages within 7 days.
Annual leave 17.5% loading. Greater-of comparison applies for both day workers (17.5% vs weekend penalty rates) and shiftworkers (17.5% vs shift loadings + weekend penalty rates) per cl. 22.3(b) - NOT both. Excessive 8 / 10 weeks (FT / shiftworker), cash-out max 2 weeks / year, min 4 weeks remaining.

Known limitations

Higher duties allowance (cl. 18.3(c)) - 4-consecutive-day threshold pays the higher classification rate. Schema doesn't natively model 'pay at higher classification' semantics; resolver must compute the differential at runtime.
Travel time at HALF ord rate (cl. 18.4(b)(ii)) - placeholder allowance + advanced rule. Resolver must compute travel-time hours, exclude normal home-work travel, and pay at 50% of ord rate (only when not on overtime).
Stand-by recall 2-hour minimum INCLUDES journey time (cl. 18.3(b)(iii)). Schema doesn't natively include journey time in shift duration; resolver must add the journey when computing recall payment.
Permanent shift +5% loading (cl. 13.7(d) NOTE 1) - separate SHIFT_PERMANENT_AFTERNOON (=125%) and SHIFT_PERMANENT_NIGHT (=130%) rows. Resolver must determine 'permanent' status (employee works afternoon or night ONLY OR combination thereof for sustained period).
Casuals and part-time employees employed within the span of ordinary hours (7am-7pm + the one weeknight up to 9pm) are NOT considered shiftworkers per cl. 13.7(b)/(c) - schema doesn't currently differentiate this. Resolver must apply this rule even when casual / PT employees work evening shifts within the span.
AL loading greater-of comparisons (cl. 22.3(b)) - encoded as 2 advanced rules. Resolver must compute both candidates and pay the maximum, with day-worker vs shiftworker classification needed.
Saturday rule splits 8am-12pm ord vs OT outside that window - model assumes resolver picks the ordinary window first. The previous seeder modelled Sat / Sun as ordinary penalties (1.5× / 2.0×) which is misleading; these are actually OT rates per cl. 20.1.
Annualised wage arrangements (cl. 17) - eligibility restricted to full-time only. UI must enforce; PT and casual employees cannot enter into annualised wage arrangements.

Setup & special instructions

Standard rate for the award is Level 2 ($1,068.40 / week) per cl. 2 - used as the base for all percentage allowances in Schedule C.
Span of ordinary hours is narrow - Mon-Fri 7am-7pm + Saturday 8am-12pm. One night per week ord hours may extend to 9pm if specified in advance by the employer (cl. 13.1(b)). Outside this span = overtime.
Default super funds - there are SIX (CareSuper, AustralianSuper, Australian Retirement Trust, HESTA, HOSTPLUS, NGS Super). UI must allow employee choice across all six.
Pay frequency may be weekly, fortnightly OR monthly, but monthly is only by mutual agreement and must be on a 2-weeks-in-advance + 2-weeks-in-arrears basis (cl. 16.1).
Casual OT rates are 175% / 225% inclusive of the 25% casual loading (per cl. 20.1 NOTE 2) - do NOT add 25% on top.
Permanent afternoon or night shiftworkers receive an ADDITIONAL 5% loading on top of the 120% / 125% afternoon / night rate - total 125% / 130% (cl. 13.7(d) NOTE 1).
Stand-by recall pays a minimum of 2 hours at the appropriate OT rate. Journey time home-to-work-and-back is INCLUDED in the calculation (cl. 18.3(b)(iii)). Public transport fare reimbursed; employer-approved taxi fare reimbursed; business calls reimbursed.
Higher duties - pay the higher classification's minimum salary when relieving in a higher job for MORE THAN 4 CONSECUTIVE WORKING DAYS (cl. 18.3(c)).
Travel time outside ordinary hours is paid at HALF the ordinary rate (cl. 18.4(b)(ii)) - not the full rate. Only the time exceeding normal home-to-work travel is counted. NOT paid if the employee is already on overtime for that travel period.
Saturday work between 8am and 12pm is ordinary hours; outside that window AND all Sunday work is paid at overtime rates per cl. 20.1.
Annual leave loading is the greater of 17.5% OR the relevant penalty rates the employee would have earned - NOT both. The comparison differs for day workers (17.5% vs weekend penalty) vs shiftworkers (17.5% vs shift loadings + weekend penalty).

Industries

• Banking
• Finance
• Insurance
• Superannuation
• Investment
• Lending
• Credit unions
• Building societies
• Trustee services
• Money market

Read the consolidated award

MA000019 on Fair Work Library

The consolidated award text is the authoritative source. Always confirm specific obligations against the award itself - Mployr's implementation status reflects what we've seeded; it does not replace legal advice.

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Banking, Finance and Insurance Award

What's built

All 6 cl. 15.1 classifications - Level 1 ($978.20) → Level 6 ($1,381.20). Level 2 is the standard rate per cl. 2.
Junior rates per cl. 15.2 - under-17 / 17 / 18 / 19 / 20 at 50 / 60 / 70 / 80 / 90% of the relevant adult rate. Applied across all 6 classifications (30 dimensional rate rows).
Span of ordinary hours - Mon-Fri 7am-7pm + Saturday 8am-12pm. One night per week ord hours may extend to 9pm if specified in advance by the employer (cl. 13.1).
Work cycle options - 38 / 76 / 114 / 152 hours over 1 / 2 / 3 / 4 weeks (cl. 13.2). 'Week' = 5 consecutive days Mon-Fri OR 5.5 consecutive days Mon-Sat.
Make-up time framework (cl. 13.5) - employer + majority can establish; employee elects with employer consent to take ord hours off and work them later. Shiftwork make-up at the shiftwork rate.
RDO flexibility framework (cl. 13.6) - any-time RDOs by mutual agreement, part-day RDOs, accrual to a 'bank' drawn upon by mutual agreement.
Shift loadings - early morning (commences 4am-7am) 112.5%, afternoon (finishes 6pm-midnight) 120%, night (finishes midnight-8am) 125%. Permanent afternoon / night shiftworkers receive an ADDITIONAL +5% on top (=125% / 130%).
Thirteen cl. 18 allowances - first aid ($19.66 / week), stand-by ($22.65 weekday / $46.26 weekend per day), stand-by recall fares + business calls reimbursement, higher duties (4-consecutive-day threshold), meal-OT ($21.27 + $17.48 second), travel expenses reimbursement, travel time at HALF ord rate, motor vehicle 1500cc and under ($128.95 / week) / over 1500cc ($159.07 / week) / casual-incidental ($0.99 / km).
Six default super funds (cl. 19.4) - CareSuper, AustralianSuper, Australian Retirement Trust, HESTA, HOSTPLUS, NGS Super (PR794717 ppc 23 Jan 2026).
Overtime - Mon-Sat outside ord hours: first 3 hours 150% / after 200% (FT/PT) and 175% / 225% (casual, inclusive of 25% loading per cl. 20.1 NOTE 2). Saturday outside weekly hours and all Sunday at 200% / 225%. Public holiday 250%. 20-min paid OT rest break after 5 hrs (cl. 20.4(a)).
TOIL hours-for-hours (cl. 20.5(d)), 6 months to take, pay-out at termination. 10-hour minimum rest after OT (8 for shiftworker per cl. 20.6(c)); fail-to-rest 200% (cl. 20.6(b)(ii)).
Stand-by recall - minimum 2 hours at OT rate, including journey home-to-work-to-home time (cl. 18.3(b)). Public transport / approved-taxi fare reimbursement; business calls reimbursement.
Annualised wage arrangements (cl. 17) - full-time only. Covers cl. 15 minimum rates, cl. 18 allowances, cl. 20 overtime, cl. 21 penalty rates and cl. 22.3 annual leave loading. Outer-limit ordinary and OT hours required in writing. 12-month reconciliation with 14-day shortfall pay. Time records and employee acknowledgement each pay period.
Pay frequency - weekly / fortnightly / monthly (monthly only by mutual agreement, on basis of 2 weeks in advance + 2 weeks in arrears per cl. 16.1). Cash, cheque or EFT permitted. Termination wages within 7 days.
Annual leave 17.5% loading. Greater-of comparison applies for both day workers (17.5% vs weekend penalty rates) and shiftworkers (17.5% vs shift loadings + weekend penalty rates) per cl. 22.3(b) - NOT both. Excessive 8 / 10 weeks (FT / shiftworker), cash-out max 2 weeks / year, min 4 weeks remaining.

Known limitations

Higher duties allowance (cl. 18.3(c)) - 4-consecutive-day threshold pays the higher classification rate. Schema doesn't natively model 'pay at higher classification' semantics; resolver must compute the differential at runtime.
Travel time at HALF ord rate (cl. 18.4(b)(ii)) - placeholder allowance + advanced rule. Resolver must compute travel-time hours, exclude normal home-work travel, and pay at 50% of ord rate (only when not on overtime).
Stand-by recall 2-hour minimum INCLUDES journey time (cl. 18.3(b)(iii)). Schema doesn't natively include journey time in shift duration; resolver must add the journey when computing recall payment.
Permanent shift +5% loading (cl. 13.7(d) NOTE 1) - separate SHIFT_PERMANENT_AFTERNOON (=125%) and SHIFT_PERMANENT_NIGHT (=130%) rows. Resolver must determine 'permanent' status (employee works afternoon or night ONLY OR combination thereof for sustained period).
Casuals and part-time employees employed within the span of ordinary hours (7am-7pm + the one weeknight up to 9pm) are NOT considered shiftworkers per cl. 13.7(b)/(c) - schema doesn't currently differentiate this. Resolver must apply this rule even when casual / PT employees work evening shifts within the span.
AL loading greater-of comparisons (cl. 22.3(b)) - encoded as 2 advanced rules. Resolver must compute both candidates and pay the maximum, with day-worker vs shiftworker classification needed.
Saturday rule splits 8am-12pm ord vs OT outside that window - model assumes resolver picks the ordinary window first. The previous seeder modelled Sat / Sun as ordinary penalties (1.5× / 2.0×) which is misleading; these are actually OT rates per cl. 20.1.
Annualised wage arrangements (cl. 17) - eligibility restricted to full-time only. UI must enforce; PT and casual employees cannot enter into annualised wage arrangements.

Setup & special instructions

Standard rate for the award is Level 2 ($1,068.40 / week) per cl. 2 - used as the base for all percentage allowances in Schedule C.
Span of ordinary hours is narrow - Mon-Fri 7am-7pm + Saturday 8am-12pm. One night per week ord hours may extend to 9pm if specified in advance by the employer (cl. 13.1(b)). Outside this span = overtime.
Default super funds - there are SIX (CareSuper, AustralianSuper, Australian Retirement Trust, HESTA, HOSTPLUS, NGS Super). UI must allow employee choice across all six.
Pay frequency may be weekly, fortnightly OR monthly, but monthly is only by mutual agreement and must be on a 2-weeks-in-advance + 2-weeks-in-arrears basis (cl. 16.1).
Casual OT rates are 175% / 225% inclusive of the 25% casual loading (per cl. 20.1 NOTE 2) - do NOT add 25% on top.
Permanent afternoon or night shiftworkers receive an ADDITIONAL 5% loading on top of the 120% / 125% afternoon / night rate - total 125% / 130% (cl. 13.7(d) NOTE 1).
Stand-by recall pays a minimum of 2 hours at the appropriate OT rate. Journey time home-to-work-and-back is INCLUDED in the calculation (cl. 18.3(b)(iii)). Public transport fare reimbursed; employer-approved taxi fare reimbursed; business calls reimbursed.
Higher duties - pay the higher classification's minimum salary when relieving in a higher job for MORE THAN 4 CONSECUTIVE WORKING DAYS (cl. 18.3(c)).
Travel time outside ordinary hours is paid at HALF the ordinary rate (cl. 18.4(b)(ii)) - not the full rate. Only the time exceeding normal home-to-work travel is counted. NOT paid if the employee is already on overtime for that travel period.
Saturday work between 8am and 12pm is ordinary hours; outside that window AND all Sunday work is paid at overtime rates per cl. 20.1.
Annual leave loading is the greater of 17.5% OR the relevant penalty rates the employee would have earned - NOT both. The comparison differs for day workers (17.5% vs weekend penalty) vs shiftworkers (17.5% vs shift loadings + weekend penalty).