ANZ has agreed to a potential pay increase of 3.5 per cent for staff over the next two years, with the bank reaching agreement on a new collective agreement with the Finance Sector Union.The FSU summarised ANZ's pay offer as "two years of performance-linked increases and increases to compulsory superannuation contributions" that will "come from a budget of [a rise of] 3.5 per cent [in payroll costs] for each year of the agreement."The union put the rise in minimum rates for each grade at 2.25 per cent each year. Higher rates will depend on ANZ's assessment of each employee and will be linked in part to sales targets and service standards.High-performing employees will be eligible for salary increases of up to 6.5 per cent in 2012 and 5.75 per cent in 2013, the bank said.ANZ will also lift the superannuation contribution by 0.5 percentage points, to 9.50 per cent, which is still shy of the 12 per cent rate mandated from July 2013. The bank may not have secured more work flexibility in the agreement, however. The FSU said it was "able to convince the bank to drop a proposed expansion of ordinary working hours to as late as 9.00pm on week nights.The union said it had also blocked bank plans for a "new form of part-time employment called 'flexible part time' that could have effectively casualised much of the workforce."