CBC employees who participate in two of our voluntary insurance plans are about to get breaks on their premiums. At the September meeting of the Consultative committee on Staff Benefits (CCSB), we approved the continuation of a subsidy on our three optional life insurance plans and a premium holiday on the voluntary Accidental Death and Dismemberment plan.
30 % subsidy remains in place for Optional Life Insurance plans
A year ago we were able to negotiate a five-per cent reduction in the premiums for three plans – Optional Life Insurance, Dependent Life Insurance and the Reducing Term Life Insurance Plan. At the same time we approved the use of surplus funds in those plans to reduce the premiums by 30 per cent. The plans continue to have healthy surpluses, so at this September’s meeting we voted to continue the 30-per cent subsidy through Aug. 31, 2014.
Premium holiday to take effect this October for Accidental Death and Dismemberment plan
Our Accidental Death and Dismemberment plan continues to be in good shape financially, in large part because we’ve been fortunate to have very few claims. At the latest CCSB, we approved a premium holiday that will take effect this October and run through March 2014.
These voluntary insurance plans are available to CBC employees at very competitive rates, but employees have the option of joining only once a year, in the spring. The CBC will give notice to all employees to remind people of what the exact dates are for joining one of the optional plans.
Thank-you to Bob Fisher for his contribution
This September’s CCSB meeting was the last for CMG representative Bob Fisher. He is retiring from the CBC and with his retirement Bob will also be ending his term as the English employee representative on the CBC Pension Board of Trustees. All the members of the CCSB thanked Bob for his service and wished him a happy and productive retirement. He has some writing plans, but we’ll let him release those details himself. With Bob’s retirement, Jon Soper will return to the pension board as the English employee trustee.
Your representatives at the September CCSB,
CBC Branch Executive Council observers Dominique Delisle and Michael Robert