Benefit Premium Holiday for City, Park Board, Ray-Cam and Britannia Members

We have been advised by the City of Vancouver that due to a surplus in the City's Basic Group Life insurance account with Sun Life, there will be a "Premium Holiday" for this benefit for the period September 9, 2011 to March 22, 2012. For the next five months, those employees who normally have a payroll deduction for basic life insurance will have no deduction, and no taxable benefit will be charged to employees for the employer's portion of the premium. Premiums for Optional Employee Life or Spousal Life will continue to be deducted. In light of this, employees will notice a higher net pay during the premium holiday. Good news for sure.

Paul Faoro
President