The union representing employees at Ontario-based flooring company Gesco Ltd. Partnership has ratified a three-year collective agreement that includes retirement and paid leave gains.
The company will now match all regular employees’ contributions to the group registered retirement savings plan to a maximum of four per cent of their basic annual earnings.
The agreement also includes three weeks of vacation after one year of employment and establishes a non-punitive mental-health leave. In addition, employees will receive an 11 per cent wage increase in the first year, followed by 3.5 per cent in the second and three per cent in the last year.
In other news, the Canadian Union of Postal Workers recently updated its premiums for disability insurance and life insurance. The update includes a 10 per cent increase in monthly disability insurance premiums, from $1.96 to $2.16 for every $1,000 of insured salary, and a 10 per cent increase in life insurance premiums, from $0.16 to $0.18 bi-weekly, for every $1,000 of coverage.
Retirees will also see an increase of 10 per cent on their basic life insurance premiums, from $0.18 to $0.20 bi-weekly, for every $1,000 of coverage.