New union dues as of January 1, 2016
- Your new PSAC dues rate is now 0.9740%, up from 0.9668%
- This change represents an average increase of $0.29 cents per member per month or $3.48 per member per year
Strike fund contribution fund
- Members also provide monthly contributions to the PSAC strike fund
- These are both ongoing contributions, continued from the previous budget cycle
- Members contribute $1.00 each month to the PSAC strike fund. If the fund falls below $25 million, that contribution will increase
- There is more than $25 million currently in the fund. This provides payment of strike pay, benefits and expenses when members are on strike or have been locked out
Pension solvency fund
- Members provide monthly contributions to the PSAC pension plan solvency reserve fund.
- This levy is included in the 0.974% dues rate.
- Originally adopted at the 2012 PSAC national convention for the 2013-2015 budget cycle, the pension plan solvency special dues levy continued to be in effect for 2016.
- In June, 2016, as directed by the 2015 PSAC national convention, the special levy was reviewed by PSAC’s National Board of Directors (NBoD). Based on an assessment of the pension plan’s solvency deficit the NBoD decided there was a need to continue the special levy in 2017.
- The National Board of Directors will assess the solvency deficit again in 2017 to determine if it needs to be continued in 2018.
Differences in deductions starting January 2016
- The total amount deducted for union dues will vary, depending on your Local/Branch and Component affiliation.
- On average, PSAC receives 55% of dues, with 45% going to Components and Locals/Branches.
Dues for members in PSAC Components are made up of:
- PSAC dues + Component dues + Local/Branch dues. Some Components changed the amount of their dues in 2015
- Other Components amended their dues in 2016
- There are some Components who have kept their dues static
- Any change in dues are a result of decisions taken by delegates at each Component’s triennial convention Changes in Local and Branch dues may also apply. Such changes would be as a result of decisions taken by members at their Local/Branch annual general membership meetings.
Directly Chartered Locals
Dues for members in Directly Chartered Locals consist of:
- PSAC dues + Local dues (where applicable) + service agreement abatement (an amount determined in the individual service agreement, paid to the local or PSAC for servicing).
- The rate of the service agreement abatement is calculated using the weighted average of Component dues which all members of Directly Chartered Locals pay.
- This rate is reviewed every three years following the Component convention cycle and the rate (either static or new) is approved by the Alliance Executive Committee. After remaining unchanged for nearly 10 years, the rate was amended in April 2015.
February 9, 2016