Protecting our pension
Industry Wide Agreement Contract Summary | July 1, 2026 – June 30, 2034
Under the new contract, the employer contribution to the Pension Fund will increase by half a percentage point on January 1, 2027.
This comes on the heels of a 1 percentage point increase at the start of 2026, bringing the employer contribution to the Pension Fund up to 12% of payroll. There is also the potential for increased employer contributions to the Pension Fund, depending on the health of the Health Benefits Fund.
The increase in employer contributions should accelerate the year when the trustees can increase pension benefits.
Increasing pension benefits is a complicated and long process – it is not something that can be done at the bargaining table. As a matter of law, pension benefits can only increase when the trustees of the Pension Fund vote to approve an increase and a meaningful increase can only be approved once the funding percentage is close to 100%.
Read the Industry Wide Agreement contract summary
Read more