Income Protection Sample Clauses
The Income Protection clause is designed to provide financial support to an individual if they are unable to work due to illness or injury. Typically, this clause outlines the conditions under which income replacement payments will be made, the percentage of income covered, and the duration of benefits. By ensuring a continued stream of income during periods of incapacity, this clause helps mitigate the financial risks associated with unexpected health issues, offering security and stability to the affected party.
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Income Protection. All workers will be covered by the extended Incolink Leisure Time Insurance and Income protection Scheme which provides defined weekly payments ($500 per week to workers with dependants, $400 per week to workers without dependants) for up to a maximum 104 weeks in the event of an extended work absence arising from any personal illness or injury (whether or not work related). The costs of this benefit will be shared between Incolink and the company on a 30/70 basis. Agreed premium costs will be: Incolink - $2.10 per week/worker Employer - $4.90 per week/worker It is a condition of the company’s agreement to provide this benefit that premium costs be maintained at not more than the February 1998 equivalent. In the event of premium costs escalating, the parties are agreed that the benefits table will be revised downwards so as to contain premium costs within the agreed limits. To maintain this cover the company agrees to pay the amounts every week for each employee. In the event the company does not maintain the above policy, the company will be liable in full to pay equivalent benefits to an employee who meets eligibility criteria as set out in the policy document.
Income Protection. To provide make up pay for any absence without pay due to the incapacitation of the employee, the Company will contribute an “Employer’s Contribution” amount as outline in the table below (or such other amount as determined by the provider) per week to provide Income Insurance on the basis:
Income Protection. The Employer will maintain income protection insurance (sickness and injury) for Employees covered by this Agreement. The following fund will be used for the purposes of the provision of Income Protection insurance: Electrical classifications: Windsor Income Protection The employer will contribute the following amounts (inclusive of GST) for each of the following employees as the premium charged for Income Protection: For electrical workers the employer shall contribute no less than the rates set out in the table below (inclusive of GST) from commencement of the agreement for each employee as the premium charged for Income Protection. For electrical apprentices, the employer shall contribute no less than the following amounts (inclusive of GST) from commencement of the agreement for each apprentice as the premium charged for Income Protection: These amounts shall increase in accordance with the annual wage increase percentage from 1 July each year. Category 1 July 2022 to 30 June 2023 1 July 2023 to 30 June 2024 1 July 2024 to 30 June 2025 1 July 2025 to 30 June 2026 1 July 2026 to 30 June 2027 All employees, other than apprentices set out below Base Premium $40.46 $42.48 $44.61 $46.84 $49.18 GST $4.05 $4.25 $4.46 $4.68 $4.92 Stamp Duty $4.01 $4.21 $4.42 $4.64 $4.87 Client Total $48.51 $50.94 $53.48 $56.16 $58.96 Apprentice Year 1 Base Premium $22.25 $23.36 $24.53 $25.76 $27.05 GST $2.23 $2.34 $2.45 $2.58 $2.70 Stamp Duty $2.20 $2.31 $2.43 $2.55 $2.68 Client Total $26.68 $28.01 $29.42 $30.89 $32.43 Apprentice Year 2 Base Premium $26.30 $27.61 $28.99 $30.44 $31.97 GST $2.63 $2.76 $2.90 $3.04 $3.20 Stamp Duty $2.60 $2.73 $2.87 $3.01 $3.16 Client Total $31.53 $33.11 $34.76 $36.50 $38.33 Apprentice Year 3 Base Premium $30.37 $31.89 $33.45 $35.13 $36.88 GST $3.04 $3.19 $3.35 $3.51 $3.69 Stamp Duty $3.01 $3.16 $3.31 $3.48 $3.65 Client Total $36.38 $38.20 $40.11 $42.12 $44.22 Apprentice Year 4 Base Premium $36.41 $38.23 $40.15 $42.15 $44.26 GST $3.64 $3.82 $4.01 $4.22 $4.43 Stamp Duty $3.60 $3.79 $3.97 $4.17 $4.38 Client Total $43.66 $45.84 $48.13 $50.54 $53.07 Adult Apprentice Year 1 Base Premium $30.34 $31.86 $33.45 $35.13 $36.88 GST $3.03 $3.19 $3.35 $3.51 $3.69 Stamp Duty $3.00 $3.15 $3.31 $3.48 $3.65 Client Total $36.38 $38.20 $40.11 $42.12 $44.22 Adult Apprentice Year 2 Base Premium $32.37 $33.99 $35.68 $37.47 $39.34 GST $3.24 $3.40 $3.57 $3.75 $3.93 Stamp Duty $3.20 $3.36 $3.53 $3.71 $3.89 Client Total $38.81 $40.75 $42.79 $44.93 $47.17 Adult Apprentice Ye...
Income Protection. An employee who is displaced from his/her job by virtue of technological change or new method of operation will suffer no reduction in normal earnings, unless such employee has refused, without good reason, to avail of additional training provided to equip the employee with the new or greater skills required to prevent displacement.
Income Protection. An employee whose job is changed or who is displaced from their job by virtue of technological change will suffer no reduction in basic earnings.
Income Protection. (a) The Employer shall provide income protection insurance in accordance with the provisions of Part A, clause 29.
(b) Subject to the rules of the income protection insurance provider, an Employee may salary sacrifice an additional weekly ‘top up’ payment for the purposes of obtaining a higher level of income protection cover to a maximum of $1800 per week.
Income Protection. 1901 An employee who is absent due to illness or injury which is not eligible for compensation by either the Workers’ Compensation Board subject to 1912 a) or by Manitoba Public Insurance (MPI) as a result of a motor vehicle accident subject to 1912 b), shall be paid her regular basic salary to the extent that she has accumulated income protection credits. The Employer reserves the right to verify that a claim for income protection is not made with respect to an injury for which lost earnings are compensated by Manitoba Public Insurance. 1902 A full-time employee shall accumulate income protection credits at the rate of one and one-quarter days per month. Of each day and a quarter of income protection credits earned, one day* shall be reserved exclusively for the employee's personal use as specified in this Collective Agreement. The remaining one quarter of a day* shall be reserved for either the employee's use or for use in the event of family illness as specified in 1905. The Employer shall maintain an up to date record of the balance of income protection credits reserved for each of these purposes. • *In the employee's first year of employment, amend "one day" to read "three quarters of a day" and amend "one quarter of a day" to read "one half of a day". • Eighty (80) percent of the balance will be reserved for the employee's personal use.
Income Protection. All workers will be covered by the extended Incolink Leisure Time Insurance and Income protection Scheme which provides defined weekly payments (for the current table of benefits, contact Incolink) for up to a maximum 104 weeks in the event of an extended work absence arising from any personal illness or injury (whether or not work related). At commencement of this Agreement the Company will contribute $7.00 per week per employee towards the cost of such insurance, with the contribution rising to $8.50 per employee per week from 1 March 2006, the table of benefits to be increased in consequence of the increased payment. To maintain this cover the Company agrees to pay the amounts every week for each employee. In the event the Company does not maintain the above policy, the Company will be liable in full to pay equivalent benefits to an employee who meets eligibility criteria as set out in the policy document.
Income Protection. An employee who is displaced from her job by virtue of technological change will be given the opportunity to fill any vacancies existing, in accordance with the Job Posting procedures forming part of this Agreement. An employee may not receive both severance pay and a training period for work at a new position.
Income Protection. 14:01 The Employer agrees to recognize income protection credits accumulated prior to the signing of this agreement.
(a) Full-time employees shall accumulate income protection credits at the rate of one and one-quarter (1 ¼) days per month.
(b) Part-time employees shall accumulate income protection credits on a pro rata basis.
(c) An employee, in her first year of employment, shall be entitled to utilize up to five (5) days of income protection credits before they are earned. The Employer may recover from a terminating employee all paid sick leave granted but not earned.
14:03 An employee who will be absent due to illness or injury shall inform her supervisor or designate prior to commencement of her/his next scheduled shift(s). An employee who fails to give notice as specified below or as soon as reasonably possible thereafter in the case of extenuating circumstances, may not be entitled to receive income protection benefits for the shift in question: Prior to day shift 1 hour Prior to evening shift 3 hours Prior to night shift 3 hours
14:04 Upon sufficient notification to the Employer, and providing such time off does not unduly effect the departmental operations, employees shall be allowed time off with pay to attend appointments with a doctor, dentist, chiropractor, physiotherapist, or other recognized medical therapist recommended by a physician. The time utilized for such appointments shall be deducted from accumulated income protection. When non-local resources are utilized, a maximum of one (1) day may be claimed from income protection.
14:05 If hospitalized due to accident or illness while on scheduled vacation, an employee may utilize income protection credits to cover the hospitalization and/or post hospitalization period, and the displaced vacation shall be rescheduled. Proof of such hospitalization shall be provided.
14:06 The Employer will provide each employee with a statement of accumulated income protection credits upon request.
14:07 The Employer reserves the right to require a medical certificate or report to determine an employee‟s fitness to perform her normal duties or to determine eligibility for income protection benefits. Such certificate shall not be required without cause after an absence of less than three days. 14:08 (a) HEBP - DISABILITY AND REHABILITATION PLAN (D AND R PLAN)