Gain Sharing Update

The Government of Alberta’s Provincial Bargaining and Compensation Office has confirmed that Alberta’s Real GDP forecast for 2023 is 2.07%. As a result, the conditions necessary to trigger the gain sharing formula negotiated in the last round of bargaining have not been met. The additional 0.5% increase will not apply.

In accordance with the terms of the current collective agreements between the university and its unionized staff, an additional 0.5% increase would apply in the event the average of all private forecasts for Alberta’s Real GDP Growth for 2023 was at or above 2.7% as of February 2024 (the “gain sharing formula”). The gain sharing formula determination can be found here.