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On May 1st of each year, the University of Waterloo’s extended health, dental, life insurance, and long-term disability (LTD) benefits are typically subject to a contract renewal. Where applicable, new rates are applied, and employee deductions processed.

With the end of the winter term approaching, many employees may be exploring taking time off to enjoy the warmer months. However, Workday reports indicate that many employees are not using their earned time for the current vacation year, which ends June 30, 2024. Note: Due to the nature of some departments and their positions, carry forward, or when vacations are taken, may vary.

The Pension & Benefits Committee approved changes effective January 1st, 2024.

What does this mean?

The amount available for reimbursement has increased to the new maximum as outlined above. For example, the coverage for paramedical practitioners (e.g., physiotherapy) has an annual reimbursement maximum of $841, instead of $811 per year.

Friday, September 29, 2023

Minimum Wage Changes October 1, 2023

The minimum wage rates in Ontario are increasing on October 1, 2023 as summarized in the following table:

Minimum wage rate Current wage rate Effective October 1, 2023

General minimum wage – applies to most employees

$15.50 per hour

$16.55 per hour