Income Continuance (Long Term Disability. The employer agrees to pay 100% of the premiums for an income continuance (long term disability) plan. An employee unable to work due to sickness or injury will become qualified for benefits as provided under the Plan as at April 1, 1993 following 105 calendar days of absence. Benefits will be payable in the amount of 66 2/3% of the employee’s basic earnings rate for a period of time as provided under the Plan as at April 1, 1993. Effective (May 17, 1996), employees on Long Term Disability will be eligible for annual indexing of their benefits to the Canadian CPI on their thirty-seventh month. The indexing increase will be implemented on 01 January of each year and will be based on the CPI in the preceding 01 October to 30 September period. Effective January 1, 2016, the indexing increase will be implemented on 01 January of each year and will be based on the percentage change in the Average CPI for the twelve (12) month period ending October 31st of the preceding calendar year. The first CPI index increase may be prorated based on the number of eligible months in the previous year.
Appears in 5 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
