Your PIPSC OSFI Group Bargaining Team is pleased to announce that on February 2, 2024, we reached a tentative agreement with the OSFI to conclude this round of collective bargaining. We believe we have reached the best deal possible in what has been a challenging round of negotiations.
Highlights of this tentative agreement include;
- Four-year agreement expiring March 31, 2026;
- Wage increases totaling 12.5% over four years, compounded to 13.14%
- $2500 one-time lump sum payment to be paid to all employees who are in the bargaining unit on the date of signing of the collective agreement;
- Revised Performance bonus range for “Met Expectations” will be 3% to 7% (Effective for the 2024/2025 Fiscal Year);
- The time required to receive 5 weeks of annual vacation leave has been reduced from 18 years to 17 years;
- New Telework Letter of Agreement; and
- Specific improvements to bereavement leave, care leave and family-related leave provisions.
This agreement must now be ratified by the OSFI Group membership. An electronic vote will be held in order to ratify this agreement. All regular members in good standing will receive the voting instructions February 22, 2024, and closing at 12:00 pm Eastern Standard Time on March 7, 2024.
Please ensure your membership information is up to date.
Important Information:
A bilingual information session will be held to answer questions from the membership regarding the proposed amendments to the collective agreement. Members will receive a separate communication with the registration instructions.
You will find all the information concerning the tentative agreement below. It is important that you take the time to review everything prior to voting and prior to asking questions to the Bargaining Team.
Please review the attached documents:
- Summary of OSFI Tentative Agreement
- OSFI Tentative Agreement
- Telework Letter of Agreement
- Workforce Adjustment LOA
- Maternity and Parental Leave LOA
- Travel Policy LOA
- Letter re OSFI's Application of Travel Policy
A Yes vote means: You are accepting all of the changes proposed in the tentative agreement. Those changes will take place at the date of the signing (except as otherwise noted) and the employer will have a period varying between 180 and 460 days to implement them (this includes any retro pay).
A No vote means: You reject the tentative agreement and instruct the OSFI Group Bargaining Team to pursue further negotiations, with a high likelihood of heading to arbitration.
The PIPSC OSFI Group Bargaining Team unanimously recommends the acceptance of this tentative agreement.
In Solidarity,
Your PIPSC OSFI Group Bargaining Team