About 1,200 members of Candu's workforce are back on the job after a recent contract agreement ended a lengthy strike.
The Mississauga News reported Wednesday that the contract will replace the Society of Professional Engineers and Associates members' defined benefit pension with a defined contribution plan. Wages are expected to increase by an average of 3.6 percent per year for the duration of the agreement, which runs through 2016. That takes into account merit increases, as well as annual raises of 2 percent, with a 2.5 percent pay increase scheduled for the contract's last year.
Almost a year ago, Canadian government-controlled Atomic Energy of Canada Limited licensed its Candu heavy water reactor designs and sold its marketing business to SNC-Lavalin. In negotiating contracts with the SPEA and other unions, the company pressed for benefits cuts and other concessions that precipitated a three-month strike and picketing at Candu headquarters.
In an announcement of a memorandum of agreement reached by the parties Friday night, the SPEA's Michael Ivanco wrote: "As you all know, this was a very difficult round of negotiations – and that’s an understatement. We gave up a lot of things but we also managed to hold on to many things important to our members."
The SPEA represents about 900 Candu scientists and engineers, in addition to 300 tradesmen. Candu workers with the Public Service Alliance of Canada reached a labor agreement with the company in June.