After significant discussion and collaboration with our union partners we are pleased to announce the Retirement Retention Incentive Program (the “Program”). This Program will provide financial incentives to help stabilize the healthcare workforce and retain retirees past their 2023 retirement date. Subject to the Program terms and conditions set out below, the Retirement Retention Incentives that will be paid to eligible Employees are as follows:
- Up to $2500 for eligible unionized employees employed by Health PEI in exchange for a six (6) month Return in Service Agreement for the applicable Program Term. The calculation of Retirement Retention Incentive payments will be prorated based on hours worked to a maximum of 975 hours.
- Up to $5000 for eligible unionized employees employed by Health PEI in exchange for a one (1) year Return in Service Agreement for the applicable Program Term. The calculation of Retirement Retention Incentive payments will be prorated based on hours worked to a maximum of 1950 hours.
The calculation of Retirement Retention Incentive payments will be prorated based on hours worked in the UPSE, CUPE, IUOE, and PEINU bargaining units only.
Deadline to apply to the program is June 30, 2023.
To learn more or apply for the program please visit: https://www.princeedwardisland.ca/en/service/health-pei-retirement-retention-incentive-program
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