Deal includes wage increases and improved vision, dental plans
Members of the Canadian Auto Workers (CAW) who work at General Electric (GE) facilities across Ontario have ratified a new three-year deal that includes wage increases and improvements to pensions and benefits.
The 750 workers are represented by CAW Locals 524, 252 and 2228 and work in Toronto, Peterborough, Arnprior, Burlington and Stoney Creek. Voting took place Feb. 16 and the agreement was approved by 97 per cent of ballots cast.
The majority of the members work at the Peterborough facility, which will see an investment of about $26 million from GE to create a North American Centre of Excellence for large slow-speed motors, as well as propulsion motors, generators and ship components.
The agreement includes wage increases of two per cent in the first year, 2.5 per cent in the second and three per cent in the final year.
In addition, the deal includes significant pension gains, including the extension of supplemental pension payments to prolong bridge payments until retiring workers qualify for the Old Age Security pension.
Members will also enjoy improvements to their vision care and dental plans, among other programs.