It's good news for Laval bus passengers.

The 24-hour bus drivers' strike, set for January 10, 2011, has been cancelled, according to the Societe de Transport de Laval (STL).

On Thursday, members of the bus drivers' union announced they would not take such action, indicating they would continue trying to resolve the situation with further talks.

The union is demanding a major increase in pensions. Laval drivers make a pension of $15,000-$20,000 a year, which they say, pales in comparison to their Montreal counterparts, who make an average of $45,000-$55,000.

The 500 bus drivers had planned a one-day strike for this Monday, with service available only during peak periods.

The union warned that a strike could still be called if talks are unsuccessful.

A government-appointed arbitrator will meet with the parties involved on Monday. A ruling is expected by early spring.

The STL urges passengers to register with its website to keep informed of the latest news.