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Osfi Collective Agreement 2018

The OSFI Collective Agreement of 2018: What You Need to Know

The Office of the Superintendent of Financial Institutions (OSFI) is an independent government agency responsible for regulating and supervising Canada`s financial institutions. As part of its mandate, OSFI has a collective agreement with its employees, covering everything from salaries and benefits to working conditions and job security.

The most recent version of this agreement, the OSFI Collective Agreement of 2018, was signed on August 1, 2018, and covers the period from July 1, 2017, to June 30, 2021. Here`s what you need to know about this agreement:

Salaries

Under the 2018 collective agreement, OSFI employees receive a pay increase of 1.5% per year for each year of the agreement. This increase applies to both base salaries and performance pay.

Benefits

OSFI employees are entitled to a range of benefits, including health and dental insurance, vision care, short-term and long-term disability insurance, and life insurance. The 2018 collective agreement includes some changes to these benefits, including a reduction in vision care coverage, but overall there are no major changes to the benefit program.

Working conditions

The 2018 collective agreement includes various provisions related to working conditions, including hours of work, overtime, and vacation leave. One significant change is the addition of a new provision allowing employees to take up to 10 days of unpaid leave to care for immediate family members.

Job security

One of the main concerns of any collective agreement is job security, and the 2018 OSFI agreement addresses this through various provisions related to layoff and termination. The agreement includes a commitment to avoid layoffs wherever possible and to provide notice and severance pay to affected employees in the event of a layoff.

Overall, the 2018 OSFI collective agreement is a comprehensive and fair document that addresses the needs and concerns of both employees and the organization as a whole. As Canada`s financial institutions continue to evolve and face new challenges, it is essential that OSFI has a strong and stable workforce to ensure effective regulation and supervision. With the 2018 collective agreement in place, OSFI employees can feel confident in their jobs and focus on achieving the agency`s goals.

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