The Tribune

THE National Insurance Board (NIB) and the Public Managers Union (PMU) yesterday signed an industrial agreement that calls for a performance management system with merit-based compensation.

The agreement brings to conclusion many months of negotiations between the two parties.

NIB Chairman Felix Stubbs commended both teams for their “professional representations” and for conducting efficient proceedings during the deliberations.

The new pact is in its nascent stage at NIB. The pilot phase of implementation, which was launched in January, is underway and the programme will continue to be fully phased in over the ensuing 12 months.

Mr Stubbs said the agreement will come into effect on registration by the Registrar of Trade Unions and Industrial Agreements and shall expire on December 31, 2019. Terms of the new agreement will be retroactive to April 1, 2015.

“We are delighted to be concluding this new industrial agreement with the Public Managers Union and look forward to our continued co-operation and collaboration, as we work together to strengthen NIB for the future,” Mr Stubbs said.

The PMU has been in existence for over two decades and aims to defend the rights and benefits of middle managers at NIB, Bahamasair and University of the Bahamas.

The agreement also entrenches health and safety standards, supports intellectual development through tuition assistance provisions, and provides relief at the top of their salary scale.

Abraham Butler, consultant, headed the team for NIB and Leslie Munnings, president of the PMU, headed the team for union members during the negotiations.