The University of Victoria (UVic) Board of Governors has approved and the UVic Faculty Association has ratified their tentative agreement negotiated under the Economic Stability Mandate.

This five-year agreement, effective July 1, 2014 - June 30, 2019, covers approximately 850 faculty members and librarians at the University of Victoria, including assistant professors, associate professors, professors, librarians, archivists, assistant teaching professors, teaching professors, limited-term faculty, artists in residence and lecturers.

The agreement provides a 5.5% wage increase over the five years of the term with potential for additional increases if the B.C. economy exceeds the annual forecasts set by the Economic Forecast Council during the last four years of the agreements.

More than 230,000 public-sector employees are now covered by tentative or ratified agreements under the Economic Stability Mandate. Overall, this represents over three-quarters of all unionized public-sector employees in B.C.

The government’s Economic Stability Mandate gives public-sector employers the ability to negotiate longer-term agreements within a fixed fiscal envelope, and offers employees an opportunity to participate in the province’s economic growth through the Economic Stability Dividend. Settlements are expected to be unique and to reflect priorities negotiated to ensure labour stability and affordable service delivery throughout B.C.

Quick Facts:

• The new 2014 Economic Stability Mandate applies to all public-sector employers whose collective agreements expired on or after Dec. 31, 2013.
• If the province’s real GDP growth exceeds forecasts over the terms of the agreement, the agreement provides for the sharing of some benefits of that growth with the public-sector employees who work on behalf of British Columbians and help make that growth possible.
• Under this proposal, employees would receive a conditional, incremental wage increase equal to half of any percentage-point gain in real GDP growth above the Economic Forecast Council’s forecast published in the February budget.
• For example, if real GDP growth is one percentage point above forecast real GDP growth, then a 0.5% wage increase would result, beyond whatever wage increase had been negotiated in the contract.

Learn More:

An up-to-date listing of tentative and ratified agreements under the Economic Stability Mandate is available at: www.fin.gov.bc.ca/psec/bargaining/2014%20Bargaining%20Status.pdf

Media Contacts:

Ministry of Finance:
Government Communications and Public Engagement
Kate Scallion
778 677-3183

Ministry of Advanced Education:
Government Communications and Public Engagement
Rodney Porter
250 889-7494