The Union will be bringing up the shortfall in Negotiations however, at the present please note the following:
On June 3, 2016, the Non-Academic Pension & Benefits Committee reviewed the Non-Academic Disability Plan renewal report. The report measures the submitted disability claims and plan costs over the past year against the level of premiums collected. Based on this report, the committee approved a new premium rate of 2.48%, effective July 1, 2016. Beginning with your July 2016 paycheque, you will see an LTD plan payroll deduction of 2.48% from your salary. This change represents an increase from 2015-2016 rate of 1.71 % due to continued increase in claims and associated costs to cover the past few years. This increase will assist in supporting the financial sustainability of the disability plan.
The committee has carefully considered this increase and is committed to working closely with Sun Life and Human Resources to support the effective and sustainable administration of both our Disability Insurance Plan and Disability Management Program.
Senior Specialist, Compensation & Benefits