NWU conclude negotiations with Demerara Mutual Life Assurance Co.

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NWU conclude negotiations with Demerara Mutual Life Assurance Co.

PRESS RELEASE – The National Workers Union (NWU) and the management of Demerara Mutual Life Assurance Company held their final meeting earlier this week and concluded industrial negotiations.

Technical and clerical workers employed with the company will benefit from a seven percent  general wage increase spread over a three-year period. Workers will receive three percent  in year one with an additional two percent  in years two and three.

Back pay will be effective from January 2014. The Medical Group Plan will be funded on a joint basis with the company contributing 60 percent and employees (40 percent). It was also agreed that the pension plan will be revisited in the near future.

Officials from the company based in Guyana were down in Saint Lucia to participate in the satisfactorily ended discussion.

 

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