Communiqué
February 9, 2007
FOR IMMEDIATE RELEASE
FAQ: New Collective Agreement
OTTAWA - In our ongoing effort to provide the most thorough information we can about the new Collective Agreement, the Association has prepared the following list of frequently asked questions.
Is the CFO Transitional Allowance (CFOTA) pensionable?
Yes, the Allowance is pensionable.
As of what date is the CFOTA available?
The Allowance is retroactive to November 7, 2005, for all FIs who were at the maximum of their level. For any FI who reached the maximum of their level subsequent to November 7, 2005, the Allowance will be retroactive to the date they reached the maximum of their level.
Will I receive the CFOTA when I act at a higher level?
Not unless you are also in the top increment in the FI acting position.
When will the CFOTA be paid?
The employer has 90 days to implement the provisions of the new collective agreement as of the date of signature (December 22, 2006).
It is our understanding that the employer needs to create a new payroll code for the allowance and that this has delayed the process. Nevertheless, the 90-day period has not expired and we expect this to be resolved.
Where can I find out more about the CFOTA?
If you require clarification on the application of the CFOTA please call a Labour Relations Officer at the ACFO National Head Office at 613-728-0695 for assistance and guidance.
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