Nurses Bargaining Association update: Pension allocation from 2007 wage increase will deferred; 3.5% increase for nurses April 1
The Nurses' Bargaining Association and HEABC have agreed to defer until 2008 the issue of allocating a one per cent market adjustment (wage increase) to Municipal Pension Plan inflation protection and benefits for retirees who were members of the NBA's constituent unions.
As a result, the one per cent market adjustment scheduled for April 1, 2007 will be added to the scheduled 2.5 per cent wage increase for NBA members, resulting in a total wage increase of 3.5 per cent.
The parties will continue to discuss the issue with a view to possibly allocating the one per cent from the increase scheduled in 2008.
The Provincial Collective Agreement ratified in May 2006 provided a total wage increase of 14.2 per cent over four years allocated as 3 per cent on April 1, 2006, 3.5 per cent on April 1, 2007 (possible allocation of 1 per cent to the pension plan to protect inflation protection and group benefits accounts for future retirees, if the pension corporation agrees), 3.5 per cent on April 1, 2008 and 4.2 per cent on April 1, 2009.