News 09/25/08

1. Negotiations Update: Settlement
2. Contract Renewal--Tenure--Promotion
3. Inflation
4. Pension News

Negotiations update: Settlement Last night, at around 10 in the Radisson Hotel, the union and the employer successfully completed contract negotiations. Details of the package will be forthcoming, as will the date and time for the ratification votes--both here and in Barrie.

Contract Renewal--Tenure--Promotion :With the deadline to apply for Contract Renewal / Tenure / or Promotion fast approaching, LUFA needs to draw to the attention of those interested some tips on the topic placed on the LUFA Website http://lufapul.ca/career_e.php .

1. If you have gone though this process before and would be available to “mentor” one who has not, please contact Ashley Thomson as soon as you can.
2. If you need some coaching on how to present your best case, you may also contact Ashley Thomson who will put you in touch with a suitable volunteer-mentor.

Inflation: On August 21, Statistics Canada reported that consumer prices rose 3.4% in July 2008 compared with July 2007, an increase from the 3.1% rise recorded in the 12 months to June 2008. (See attached file) 

Pension News: Through the good word of LUFA’s actuary, Ashley Crozier, we have discovered that some of our pensioners will see an increase in their pensions. Until now, there has been cap on pension increases if inflation exceeded 3%. We now know that all along the plan had a “rolling guarantee” --that is if inflation were 3.5% in one year and 2.2% the next, while a pension would be capped at 3% in the first year, in the second, it would rise to 2.7% to make up for the .5% it could not pay in the first year.