The union representing 8,200 Stellantis employees has ratified a three-year collective agreement that includes pension gains.
On Jan. 1, 2025, employees hired on or after Sept. 19, 2016 and currently participating in the company’s defined contribution pension plan will be enrolled in the Colleges of Applied Arts and Technology’s DBplus pension plan.
For plan members who remain in the DC plan, mandatory company contributions will increase from four per cent to seven per cent, to a maximum of 2,080 hours, and a voluntary one per cent contribution will cease. Members of the legacy defined benefit pension plan will have a commuted value pension option.
Read: Canadian auto workers, GM reach tentative contract agreement, mirroring Ford deal
The deal, which follows the pattern agreement Unifor reached with General Motors and Ford Motor Co. in the last two months, also includes two additional paid holidays — Family Day and the National Day for Truth and Reconciliation — as well as the reactivation of a cost-of-living allowance in December 2024.
Employees will also see general wage increases in each year of the agreement, with 10 per cent in year one, two per cent in year two and three per cent in year three.
“Our members and our bargaining team stood firm in our resolve to reach a strong agreement that follows the union’s core economic pattern and all of the issues specific to our individual Stellantis facilities,” said James Stewart, Unifor Stellantis master bargaining chair, in a press release.
“The agreement puts in place all of the elements of our pattern agreement, the protections autoworkers need throughout the [electric vehicle] transition and next-generation products our members will build for years to come.”
Read: Ford, Unifor agreement includes significant DC pension improvements, transition to DB plan