CAPE Members Can Now File Claims for Financial Costs and Investment Losses Caused by PhoenixFebruary 07, 2020
Many of you have been waiting for a long time to see the day when you could get compensated for financial damages caused by the Phoenix failures. Under the Phoenix Damages Agreement CAPE signed on June 12, 2019, a process to claim for financial damages was to be fully set up, and that day has finally arrived, with more updates to come.
Under the Phoenix Damages Agreement, eligible members represented by the bargaining agents who signed on to the agreement are now able to request compensation for severe damages related to financial costs and lost investment income.
This means that you can claim interest on late pay or claim the lost investment opportunity if you cashed in investments such as Registered Retirement Savings Plan (RRSPs) or Guaranteed Investment Certificates (GICs).
To be eligible for this compensation, your claim for losses must be greater than the one-time threshold of $1,500.
DO YOU NEED FURTHER ASSISTANCE?
If you need information that is currently not available on the link provided above and if you are currently affected by the Phoenix pay system failures, please contact the labour relations officer assigned to your department or region.