Home Wealth Management RBC insurance coverage unit faces trip pay class motion

RBC insurance coverage unit faces trip pay class motion

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RBC insurance coverage unit faces trip pay class motion

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As specified by the doc, the advisors have been paid each a hard and fast annual base wage and variable compensation, together with bonuses and commissions, primarily based on their efficiency.

In response to the advisors who put the go well with ahead, their employer didn’t pay them trip and public vacation pay on prime of the variable compensation they have been entitled to. The alleged actions breach employment requirements laws within the seven provinces the place they have been employed: Alberta, Ontario, Quebec, Newfoundland and Labrador, New Brunswick, Nova Scotia, and Prince Edward Island.

“The plaintiff alleges that the phrases of the Compensation Coverage violate the ESL, which requires that variable compensation be handled as wages for the needs of calculating the required trip and public vacation pay,” the courtroom submitting mentioned.

After consideration of other approaches to calculating pay – one utilized by the plaintiffs and the opposite by the defendants – the presiding decide licensed the category motion in opposition to RBC IA, although he modified a number of the proposed widespread points and proposed definition for the category.

“There’s some foundation in reality that RBC Basic and RBC IA didn’t pay trip or public vacation pay as required below the ESL,” the doc mentioned.

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