Salary Indemnity Fund
VSTA SIF Fees Permanently Waived
As a result of motions passed at the 2017 VSTA AGM the Fund is a closed fund with membership restricted to the active members of the fund on May 16, 2017. They will remain members until they retire, terminate employment or the VSTA-SIF is exhausted of funds. No annual fees are required as fees have been permanently waived.
Benefits: the Fund pays a daily benefit of 15% of the member’s daily salary on the last day of paid sick leave for a maximum of 45 days (effective September 1, 2018) after the expiration of paid sick leave.
To ascertain if you are a member of the Fund or for any other questions please contact Kim at the VSTA office directly at firstname.lastname@example.org.
What is it?
As a member of the VSTA-SIF, after depletion of your sick leave, you may be eligible to a top-up payment of your BCTF salary indemnity which would then equal 65% of your gross salary.
The yearly fees for continuing and associate members are $40 and $45 respectively. Members who do not pay their fee by December 31 of each year will be charged a $20 reminder fee, and if they are in arrears after one full year, be de-activated from SIF membership. The salary top up provided by the plan is available for a maximum of twenty (20) days. Teachers are reminded that the yearly enrolment fee needs to be submitted by members directly to the VSTA and is not deducted by payroll.
Is there a process for a continuing teacher who has been laid off and subsequently reinstated to a continuing position to reactivate their SIF membership? Are there specific deadlines?
If a VSTA member receives a continuing contract after the October 31st deadline, the member has the option of applying for membership either at that time or the following September. New application for membership to VSTA-SIF must be made within two months of continuing appointment with the VBE in order to qualify for membership during the current year. As well, if a VSTA-SIF member has been laid off and then rehired from the recall list to a continuing contract, they can apply to be reinstated as an active member. The rules as stated above will then apply. Reinstatement would not require the payment of the initiation fee but would require the payment of the regular yearly fee. If the recall period has lapsed then application would be as a new member.