Jump to content
The Official Site of the Vancouver Canucks
Canucks Community

Coronavirus outbreak


CBH1926

Recommended Posts

6 hours ago, Russ said:

That's a complete dick head move. Over my dead body my employer will make me use my vacation pay every, that's gonna be my retirement bonus lol

If you're banking vacation time is such a manner....I'd suggest you get it in writing from your employer just as insurance in case they try and screw you.

  • Vintage 1
Link to comment
Share on other sites

7 minutes ago, NewbieCanuckFan said:

If you're banking vacation time is such a manner....I'd suggest you get it in writing from your employer just as insurance in case they try and screw you.

Yeah I am not a fan of this  BC employment standard policy  (I think it's new ??  At my old job tons of people use to bank time)

 

https://www2.gov.bc.ca/gov/content/employment-business/employment-standards-advice/employment-standards/time-off/vacation 

 

Vacation must be taken within 12 months of being earned. Employees cannot skip taking vacation time and just receive vacation pay.

Annual vacation is scheduled in periods of one week or more unless the employee asks for a shorter amount of time. Employers can schedule vacation time according to business needs as long as employees are able to take their vacation days within twelve months of earning them.

  • Thanks 1
Link to comment
Share on other sites

9 minutes ago, Chicken. said:

Yeah I am not a fan of this  BC employment standard policy  (I think it's new ??  At my old job tons of people use to bank time)

 

https://www2.gov.bc.ca/gov/content/employment-business/employment-standards-advice/employment-standards/time-off/vacation 

 

Vacation must be taken within 12 months of being earned. Employees cannot skip taking vacation time and just receive vacation pay.

Annual vacation is scheduled in periods of one week or more unless the employee asks for a shorter amount of time. Employers can schedule vacation time according to business needs as long as employees are able to take their vacation days within twelve months of earning them.

Yup.  I got screwed (fortunately it wasn't a large amount of money) over this.  Lesson learned (don't trust anyone).

Link to comment
Share on other sites

9 minutes ago, Chicken. said:

Yeah I am not a fan of this  BC employment standard policy  (I think it's new ??  At my old job tons of people use to bank time)

 

https://www2.gov.bc.ca/gov/content/employment-business/employment-standards-advice/employment-standards/time-off/vacation 

 

Vacation must be taken within 12 months of being earned. Employees cannot skip taking vacation time and just receive vacation pay.

Annual vacation is scheduled in periods of one week or more unless the employee asks for a shorter amount of time. Employers can schedule vacation time according to business needs as long as employees are able to take their vacation days within twelve months of earning them.

There is a key word in the web page description...advice. 

Link to comment
Share on other sites

1 minute ago, spur1 said:

There is a key word in the web page description...advice. 

I believe it is the government interpretation of the employment standards act.  

 

If you would like to read the actual Act that's fine

 

http://www.bclaws.ca/civix/document/id/complete/statreg/96113_01#section57 

 

Entitlement to annual vacation

57   (1)An employer must give an employee an annual vacation of

(a)at least 2 weeks, after 12 consecutive months of employment, or

(b)at least 3 weeks, after 5 consecutive years of employment.

(2)An employer must ensure an employee takes an annual vacation within 12 months after completing the year of employment entitling the employee to the vacation.

(3)An employer must allow an employee who is entitled to an annual vacation to take it in periods of one or more weeks.

  • Upvote 1
Link to comment
Share on other sites

15 minutes ago, Chicken. said:

Yeah I am not a fan of this  BC employment standard policy  (I think it's new ??  At my old job tons of people use to bank time)

 

https://www2.gov.bc.ca/gov/content/employment-business/employment-standards-advice/employment-standards/time-off/vacation 

 

Vacation must be taken within 12 months of being earned. Employees cannot skip taking vacation time and just receive vacation pay.

Annual vacation is scheduled in periods of one week or more unless the employee asks for a shorter amount of time. Employers can schedule vacation time according to business needs as long as employees are able to take their vacation days within twelve months of earning them.

Depends as well whether you work in a job covered by a collective agreement as most often the terms of the CA supersede either provincial or federal employment regulations.  

  • Thanks 1
  • Upvote 1
Link to comment
Share on other sites

Just now, skategal said:

Depends as well whether you work in a job covered by a collective agreement as most often the terms of the CA supersede either provincial or federal employment regulations.  

Yep. Hopefully he is in a union! 

 

Just posting a reputable source for the fellow that (jokingly?) said he was banking his vacation time for a retirement bonus.

  • Like 1
  • Thanks 1
Link to comment
Share on other sites

9 minutes ago, Chicken. said:

Yep. Hopefully he is in a union! 

 

Just posting a reputable source for the fellow that (jokingly?) said he was banking his vacation time for a retirement bonus.

When I retired in February last year I had enough vacation time banked to keep paying me for over 4 months. I used to get 6 weeks a year. I would take 3 and bank 3

  • Upvote 1
Link to comment
Share on other sites

Probably getting away from the topic of Corona Virus (is that a bad thing?) but having worked in business for a long time, most of it in management, I know that the cost of accrued  vacation can be a huge burden for companies.  Imagine if you have 50 employees, all of whom are entitled to 4 weeks vacation.  They have to take 2 weeks and can bank 2 weeks.  if half of them do that, it's 50 weeks  (25 employees x 2 weeks) per year of paid time that the business has to carry forward, along with paying the employees for the time they work when they would have normally been on vacation.  If you work for 15 years and bank 2 weeks vacation per year, you've now got 30 weeks to cash out.  It's an income tax hit if you take it in a lump sum, or in some cases you can just take 30 weeks of vacation and extend your exit date.  Now the business also has to pay for your benefits during that 30 weeks, so it pushes a company to establish clear policies on what banking vacation entitles a person to do.  What is the value of that vacation when it's cashed out?  Current value or the value it was banked at.  Over 10+ years that can be a significant difference?  Is there a limit to how much time can be banked?  Is there a limit to how much time can be used at once?  

  • Upvote 2
Link to comment
Share on other sites

1 minute ago, spur1 said:

When I retired in February last year I had enough vacation time banked to keep paying me for over 4 months. I used to get 6 weeks a year. I would take 3 and bank 3

I am jealous that most companies do not operate that way anymore

  • Cheers 2
Link to comment
Share on other sites

16 minutes ago, Chicken. said:

I am jealous that most companies do not operate that way anymore

It's called cost certainty.  Most companies don't want to buffer for that expense.  And most don't want to pay extra $$ at end of fiscal.   So they ensure you use up allotted vacation leave whether you like it or not.

 

Almost unheard of in non-union jobs.  Even in unions, that needs to be negotiated to accrue bank time.

Link to comment
Share on other sites

1 minute ago, BPA said:

It's called cost certainty.  Most companies don't want to buffer for that expense.  And most don't want to pay extra $$ at end of fiscal.   So they ensure you use up allotted vacation leave whether you like it or not.

 

Almost unheard of in non-union jobs.  Even in unions, that needs to be negotiated to accrue bank time.

Yes I understand why hence my jealousy as an employee. Luckily the small company I am at now does not care about banking time, but I'm not sure if its a company I want to retire at.

 

I wonder how many companies these days even do RRSP matching... like 50% ? 

Link to comment
Share on other sites

4 minutes ago, Chicken. said:

Yes I understand why hence my jealousy as an employee. Luckily the small company I am at now does not care about banking time, but I'm not sure if its a company I want to retire at.

 

I wonder how many companies these days even do RRSP matching... like 50% ? 

Don't count on company RRSP as a sure thing.  Look at Sear Canada.  Those pensioners got screwed. 

Link to comment
Share on other sites

1 minute ago, BPA said:

Don't count on company RRSP as a sure thing.  Look at Sear Canada.  Those pensioners got screwed. 

Unfortunately nothing is a sure thing when it comes to retiring comfortably. It feels almost hopeless for people in their 20-30s starting out.

 

Best bet is to live a minimalist lifestyle then you don't even need that much $ to retire if you can live happily cheaply -_-

  • Cheers 1
Link to comment
Share on other sites

43 minutes ago, BPA said:

It's called cost certainty.  Most companies don't want to buffer for that expense.  And most don't want to pay extra $$ at end of fiscal.   So they ensure you use up allotted vacation leave whether you like it or not.

 

Almost unheard of in non-union jobs.  Even in unions, that needs to be negotiated to accrue bank time.

Yep.  Even though I'm a professional, I'm in a union and we have rules on how many days we are allowed to bank.  We are allowed to carry only 4 weeks vacation at a time.  Anything over and above is paid out.  The rules were changed after a more than just a few employees had almost a full year of vacation time banked to be taken upon retirement.  Gives the employee essentially one free year of benefits as they were still on the payroll.  The company had a huge vacation pay liability in their books.

 

Link to comment
Share on other sites

  • -SN- locked and unlocked this topic
  • -SN- featured and pinned this topic
  • -SN- unfeatured this topic

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...