PIPSC is thrilled to announce that the OSFI Pay Equity Committee, composed of PIPSC and employer representatives, has finalized a draft pay equity plan. This groundbreaking plan, now available to all OSFI employees on the intranet, proposes significant adjustments to several job classes, with increases ranging from a few dollars per hour to much larger adjustments. If implemented, this plan will result in a significant portion employees receiving annual adjustments. As a portion of payroll costs, these adjustments are in the typical range for a thorough and well-done pay equity analysis. Exact numbers are only available to OSFI employees through the intranet until the plan is finalised.
During the legally mandated feedback period, like for all pay equity plans, we encourage members share their comments first with PIPSC officers. We believe the draft plan represents the most ambitious and defensible pay equity plan possible. Our team of experts is here to guide you through the process and provide clarity on the steps that led to this comprehensive plan.
This remarkable achievement is a testament to the efforts of PIPSC members and staff, and the collaborative spirit of OSFI employer representatives. Together, we have conducted an in-depth review of jobs, identified gender predominance with a focus on social stereotyping, evaluated job classes using an updated system, and compared total compensation to job value through the segmented line method of comparison (proportional value) — a method considered to be the most successful in addressing the pay equity gap. Importantly, the evaluation system used for this analysis does not alter the existing classification or job design system; it solely serves to ensure equitable pay. As a result, OSFI has successfully identified and addressed the unintentional undervaluing of work typically associated with female-predominant work.
As one of the first federal pay equity plans posted, this OSFI plan sets a precedent for what can be achieved through collaboration and dedication to achieve fair pay for women. We look forward to bringing this success to our remaining sixteen pay equity tables. Should you have any questions, please reach out to payequity@pipsc.ca.