The City of Montreal has reached an agreement-in-principle with the blue collar workers' union, the SCFP, regarding its pension plan.
According to a statement issued by the union, both parties were able to find common ground after a round of "intense" negotiations. The details of the deal have not yet been disclosed.
The Coderre administration decided unilaterally in 2016 to stop indexing the blue collar pension contributions to cut its deficit, a move that led to frustration among union members.
The union says the agreement-in-principle "protects the blue collar workers in a responsible way."
Despite the deal, the union is still planning on pursuing legal action to have the indexing rule thrown out.
Members of the union will vote on the tentative agreement by secret ballot at an upcoming general assembly.
The city has recently made pension plan deals with its police officers, firefighters and white-collar workers.