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We are pleased to announce that we have negotiated additional compensation for every member who was covered by the FI or AV Collective Agreement when it was signed in 2019, plus even more compensation for any members who faced significant delays in having the terms of the new agreements applied to them.
As you likely remember, the current FI Collective Agreement (covering CT-FIN members) and AV Collective Agreement (covering CT-EAV members) both contain language that provided compensation associated with the longer implementation period and potential delays in implementation.
Every member received a $400 lump sum payment in recognition of the long implementation period in the contract (negotiated in anticipation of delays with the Phoenix payroll system). Additionally, any member who faced delays in receiving their collective agreement entitlements past the 180-day implementation period would be eligible to receive $50 for every 90 days that passed up to a cap of $450 (note: this only applies to changes in compensation resulting from the new contract, such as retro pay).
The new agreement reached with Treasury Board increases the lump sum payment to $500, meaning every member who received the $400 payment will get an additional $100. Furthermore, we’ve negotiated to have the $450 cap removed on compensation for further delays in implementation. These amounts are all taxable.
No action is needed on your part at this time. The lump sum payments are scheduled to be paid out in May of this year. This is another significant win for all of us who were affected by the longer implementation period and any lingering implementation issues. If you have questions, please contact ACFO-ACAF Labour Relations (email@example.com).