Pension plan increases, higher health-care spending account in deal: IAM
Members of International Association of Machinists and Aerospace Workers Canada (IAM), Local 901 ratified a new collective agreement with Toronto’s SKF Canada on Nov. 28.
The three-year agreement provides wage increases of $0.50 per hour in each year of the agreement, said the union.
Other agreement highlights include a $2-per-hour increase to the DB pension plan in the first year of the agreement, increased benefits and an increased boot allowance, according to IAM.
Workers will also receive a health-care spending account increase from $300 to $450, which can be put toward topping up of any benefit the employee chooses, said the union.
The 19 members work in the SKF Warehouse logistics facility in Scarborough, which is in Toronto.
