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The Association of Canadian Financial Officers is pleased to announce that the new FI Collective Agreement will be signed on September 30, 2013.
FIs will have six months from the date of the signing of the Collective Agreement to provide the Employer with their choice of voluntary severance cash-out option.
As of October 4, 2013 (90 days from the date of the arbitration award), paychecks must be adjusted to reflect the new rates of pay which include the 2011 and 2012 economic wage increases, as well as a separate lump sum payment for retroactive wages owed. Please note that 2013 wage increases and the restructured pay grid do not take effect until Nov. 7, 2013.
For FIs who have completed between 5 and 8 years of service, leave banks must also be updated by October 4,2013 to reflect the increased vacation entitlements that have accrued since the arbitration award.
More information on important upcoming dates in the implementation of the new agreement, including deadlines regarding voluntary severance cash-out options, is available in ACFO’s Implementation timeline chart.
If you have any questions, please email email@example.com or call the ACFO office at 613-728-0695 (National Capital Region) or toll-free at 1-877-728-0695 and ask to speak with a Labour Relations Advisor.