NIC building, Waterfront, Castries.
PRESS RELEASE - The Management of the National Insurance Corporation (NIC) and representatives from the National Workers Union (NWU) met at the Department of Labour to officially sign a new industrial agreement.
The new industrial contracts will cover two (2) trienniums: 2012 -2014 and 2015-2017.
Workers will receive a nine percent (9%) compounded general wage increase to cover the two trienniums. Improvement in Overtime, Shift, Meal and Subsistence Allowances and a maximum loan for employees at $80,000.00 form part of the package.
Retroactive payments will be effective from January 1, 2012.
Both sides have agreed to work together towards the full realization of the industrial package.
The signing of the contracts was done in the presence of officials from the Ministry of Labour.