As you likely know, the FI Community in the public service overwhelmingly ratified the new collective agreement in early January. We are now waiting for the employer to set the date for the agreement to be formally signed, at which point implementation can begin. We expect this to take place in March.
Part of the reason for the delay is that Treasury Board’s approval process can be slow. However, we were the first group to ratify our agreement and, thus, should be first in the queue for all of these steps.
Once the agreement, including salary grids, has been finalized and signed we will distribute it to all members immediately.
In the meantime, here are a few things we can tell you:
Once the agreement is signed, the employer has 120 days to issue the retroactive payments.
The new provisions in the collective agreement are effective on signing unless otherwise specified. as is the case with pay for example. New provisions regarding CPA insurance reimbursement, for example, will not be applied retroactively.
Negotiations for the new Employee Wellness Plan will begin later this year. In the meantime, the old sick leave plan is still in place and will remain so until an agreement is reached on the new plan and that plan is implemented in a future collective agreement.
We are aware that Treasury Board’s summary of the new FI Collective Agreement did not mention the 1% market adjustment to the salary grid. This adjustment is in the final agreement and all members will receive this adjustment as part of the retro pay and it will be part of the new salary grids.