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Unions reject Montepio’s initial proposal for a 1.5% increase.

In a statement, Mais Sindicato, Sindicato dos Trabalhadores do Setor Financeiro de Portugal (SBN), and Sindicato Nacional dos Trabalhadores da Banca, Seguros e Tecnologias (SBC) announced that they began negotiations to revise the Collective Labor Agreement (ACT) with Montepio last month.

The three unions are demanding a 5.7% increase in the salary table and pecuniary clauses, “similar to what was presented to all credit institutions signatories to collective agreements.”

However, they mention that the Montepio negotiating group “does not want to go beyond a 1.5% salary increase,” a figure they considered “insignificant and immediately rejected.”

In addition to salary increments, the unions also requested a unification of the tables for active and retired workers, “considering that currently nothing justifies the maintenance of two tables, as the premises that led to their creation no longer apply.”

Furthermore, Mais, SBN, and SBC stated that Montepio rejected proposals for contractual revisions, justifying in some cases “with cost increases and in others as a management matter.”

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