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Bank Executives National Collective Labour Contract Renewed

Green light: on 13 July 2015, in record time, an agreement was signed to renew the National Labour Contract for bank managers, expiring on 31 December 2018. The details: (i) no salary increase was included, (ii) the current system for calculating post-employment benefits was confirmed and (iii) seniority increases were repealed (with consolidation in a cheque which can bot be absorbed by those already matured individually), with the exception of those in the process of maturing. Moreover, focus was placed on elements of a social nature in renewing the contract. In the event of termination of employment, the involved managers, as with the professional areas and middle managers, can be included in reemployment, conversion and retraining through the Foc (national fund for sustaining employment in the banking sector). The grace period for managers afflicted by cancer has been lengthened from 30 to 36 months. For the first time the contract was signed by all industry stakeholders (Abi and Trade Unions) and arrived after negotiations aimed at adapting – given the current socio-economic context in which banks currently work, needs of an employment nature to those for managing banks.