Thursday April 25 2024
On March 6, 2024, Canada Post presented its proposed rate increases to the Consultative Committee on Benefits (Appendix “M” of the Urban Collective Agreement).
The Union received financial information from Canada Post just prior to the meeting with no chance to thoroughly review. As such, the Union stated that it was not in a position to evaluate the legitimacy of the proposed rate change.
On March 11, 2024, the Union sent a request for more details of the financial information so that it may conduct a proper analysis of the proposed rate increase. On April 2, 2024, Canada Post responded by saying “…the Corporation has fulfilled its responsibility under Appendix “M” and is not required to provide any additional information”. The Union is currently reviewing its options.
Premium rates for both the Basic Life Insurance Plan and the Disability Insurance Plan will go up ten percent (10%). The increase applies to the whole premium – both the portion you pay and the portion the employer pays. The increase to the Basic Life Insurance rate also applies to retirees. The new rates will take effect on July 1st.
SUMMARY OF PROPOSED RATE CHANGES
| INSURANCE PLANS | CHANGES |
| Extended Health Care Plan (EHCP) | No changes to the rates |
| Dental Plan | No changes to the rates |
| Basic Life Insurance Plan | 10% increase:
|
| Disability Insurance Plan | 10% increase:
From $2.16/$1,000 to $2.38/$1,000 for active employees |
Example of the rate change impact for an active employee with an annual salary of $55,000:
| SINGLE COVERAGE | ||||
| MONTHLY | ANNUAL IMPACT OF THE INCREASE | |||
| PLANS | Current | Proposed | Difference | |
| EHCP | $5.39 | $5.39 | $0.00 | $0.00 |
| Dental Care | $1.47 | $1.47 | $0.00 | $0.00 |
| Basic Life | $19.36 | $21.30 | $1.94 | $23.28 |
| Disability Insurance | $118.80 | $130.60 | $11.80 | $141.60 |
| Total EE Deductions | $145.02 | $158.76 | $13.74 | $164.88 |
In May, CPC will notify members that may be impacted to advise them of the change.
The information will be included on the Canada Post website and members that have signed up for group notifications from Canada Life will receive a notification.
For more information, about the benefits program, active members should visit Intrapost and click on the benefits tab under “You at Canada Post” or contact AccessHR at 1-888-807-9090 or AccessHR@canadapost.ca.
Retirees should contact the Pension Centre at 1-877-480-9220, -1-866-370-2725 (TTY) or
613-683-5908 (outside North America) or visit the pension website at cpcpension.com.
In Solidarity,