OSFI Tentative Agreement Summary

Pay

You have not received a raise since 2017.

This deal offers a general economic increase of 7% to your pay through the life of the agreement:

April 1, 2018 - increase to rates of pay: 2.0%

April 1, 2019 - increase to rates of pay: 2.0%

April 1, 2020 - increase to rates of pay: 1.5%

April 1, 2021 - increase to rates of pay: 1.5%

In addition:

April 1, 2018 - increase of 0.8% applicable to all classifications and levels;

April 1, 2019 - wage adjustment of 0.2% applicable to all classifications and levels.

Retroactive pay applies as of April 1, 2018.

Appendix A

Overtime Meal Allowance

Employees who work three (3) or more hours of overtime immediately before or immediately following scheduled hours of work shall be reimbursed for one meal in the amount of $10.50, unless free meals are provided. An additional meal to a maximum of $10.50 is permitted for each four (4) hours thereafter.

We negotiated an increase in the reimbursement to $12.00 to be consistent with the core public service.

Article 8.08

Bereavement Leave with Pay

You are entitled to seven days of Bereavement Leave with Pay following the death of a member of your immediate family.

We argued that the current definition of immediate family is too limited and the entitlement does not respond to the needs of all families.

We also wanted to provide bereaved members the flexibility to take their leave over two periods when the ceremony is not immediately following the death,

The definition of immediate family has been broadened to include a person who stands in the place of a relative for the employee, whether or not there is any degree of consanguinity (descendant) between such person and the employee.

The Bereavement Leave with Pay for a person who stands in the place of a relative whether or not there is a degree of consanguinity is limited to once in their career in the federal public administration.

Bereavement Leave can now also be divided into two (2)periods.

There are specifications/restrictions about when the leave can be taken.

For more details, please see the OSFI tentative agreement dated May 25, 2019.

Article 16.02

Leave Without Pay for the Care of Family

We argued that the current definition of immediate family is too limited and does not respond to the needs of all families.

The definition has been broadened to include a person who stands in the place of a relative for the employee, whether or not there is any degree of consanguinity between such person and the employee.

Article 17.07

Leave with Pay for Family-related responsibilities

We argued that the current definition of immediate family is too limited and does not respond to the needs of all families.

We argued that the limitation to provide time off in the case of an unforeseeable closure of daycare facility was too restrictive and did not include situation when child is too old for day care, but still require special care.

The definition has been broadened to include a person who stands in the place of a relative for the employee, whether or not there is any degree of consanguinity between such person and the employee.

We were successful in changing daycare facility to care facility.

Article 17.10

Performance Pay

We argued that performance pay should be increased to enable OSFI to compete with our comparators in the financial services sector and comparable government organizations, to recruit and retain talent.

We also argued that the performance pay ranges should be narrowed to reduce inconsistent application, and the overlap between meets expectations and surpassed expectations should be eliminated.

The Employer agreed to eliminate the overlap between meets expectations and surpassed expectations, by changing the range for surpassed expectations from 7-16% to 8-16%.

We also agreed to a Memorandum of Understanding, outside of the Collective Agreement, to establish a special working committee to meet within ninety (90) days of the signing of the agreement.

The committee will establish the terms of reference, to include:

1. Identifying concerns with the current performance pay system from the perspective of managers and employees;

2. Reviewing the role of performance pay in recruiting, retaining, incentivizing and motivating employees;

3. Gathering appropriate data and research to investigate best compensation and performance pay practices within the comparator universe; and

4. Developing joint recommendations to enhance the success of performance pay within OSFI’s compensation system.

Appendix D &

MOU With Respect to Concerns Identified Pertaining to Performance Pay

Retroactivity – Performance Pay

We argued that delays in negotiating the collective agreement should not result in members being denied the application of retroactive wage increases on their performance pay.

We successfully negotiated an amendment to the performance pay Memorandum of Agreement, which requires the Employer to provide each employee who received performance pay with a lump sum payment representing the retroactive economic increase to the performance pay.

This will be paid within 180 days of signing the agreement.

Appendix D

Travel & Reimbursement of Meals

We raised concerns relating to the reimbursement of meals during travel time, in particular when traveling at the beginning or end of the work day.

We agreed to a Memorandum of Understanding, outside of the Collective Agreement, to establish a special working committee to meet within ninety (90) days of the signing of the agreement to review the present criteria and application and advise the parties with respect to this issue.

Nothing in the Memorandum restricts or limits the right of employees to seek satisfactory resolution of a denied meal reimbursement claim through the grievance procedure.

MOU With Respect to Concerns Identified Pertaining to Travel and Reimbursement of Meals