PRESS RELEASE – The management of Demerara Mutual Life Assurance Society and officials from the National Workers Union (NWU) have signed another industrial agreement. The signing took place before Acting Labour Commissioner Mr. Ray Narcisse.
The new industrial agreement makes provisions for a seven percent (7%) general wage increase spread over three years as follows: Year 1 – 3%, Year 2 – 2% and Year 3 – 2%.
The implementation of new salaries will be effective from January 2014. The company and the NWU also agreed to an upward revision of fringe benefits.
Demerara Mutual Life Assurance Society and the National Workers Union have, over a period of ten (10) years, established an industrial relations rela tionship which embraces mutual respect.