Saskatchewan teachers have ratified a collective agreement, CBC News has confirmed.

About two-thirds of the Saskatchewan Teachers' Federation members who voted, approved the deal.

The new contract includes a wage package of 5.5 per cent over three years, plus market adjustments of between 3.44 and 5.01 per cent.

Saskatchewan’s 12,000 teachers have been without a contract since August 2010 and walked off the job for the first time in the province’s history earlier this year.

They had also withdrawn all voluntary services, including overseeing extra-curricular activities such as sports or drama practices — activities for which teachers do not normally get paid.

However, all job action was suspended after a mediator was appointed at the end of May as the union and the school board's bargaining committee began working towards a settlement.

Those discussions lead to a tentative agreement announced last month following the release of the mediator’s report in July that recommended the wage increases contained in the new contract.

The agreement is effective immediately.