On April 28th, 2015 the National Insurance Corporation and the National Workers Union signed a Collective Bargaining Agreement for the 2012-2014 and 2015-2017 trienniums. This marked the conclusion of a lengthy negotiations process.
One day later, on April 29th, the NIC made good on its commitment and made retroactive payments of 7% to all staff for the 2012-2014 triennium. An additional 2% salary increase was agreed for the 2015-2017 triennium.
Notable in the benefit improvements was an increase of $5000 (from $75,000 to $80,000) in the maximum loan available to Travelling Officers for the purchase of vehicles in pursuance of their duties.
Improvements were also agreed for the following benefits:
1. Shift Premium for Security Officers
2. Compassionate leave
3. Subsistence Allowance for overseas travel
4. Basic Travel Allowance for Travelling Officers.
In addition, Supervisors were reinstated as part of the collective bargaining unit.
The NIC wishes to express its sincere thanks to the Office of the Labour Commissioner for its valuable input in this process.