Demutualization. It’s a word only a bean counter could love. But it represents a potential windfall for employers who could pocket bundles of cash that have been built up through the contributions of their employees.
As a result of the restructuring of the insurance industry, policy holders 006d006f0073t often employers 006100720065 being paid large cash sums related to the value of their policies. In some cases these payments amount to millions of dollars. And in every case, this value has been built up through premium payments made by workers or on their behalf 006f00660074en the result of tough negotiations.
Some CUPE locals have been quick off the mark ensuring that these funds are reinvested in improving benefits and coverage. CUPE 182, representing Region 4 of the Calgary Regional Health Authority and CUPE 3597, representing municipal workers in Watrous, Saskatchewan are two such locals.
To find out more about demutualization – what it means for workers, how to find out what your employer is doing, and what options make most sense for your local 0063006f006etact your staff rep. Background information will be mailed to all locals in January but in the interim, you can click here to learn more.
Click here to download a copy of CUPE’s de-mutualization check list.