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HomeLatest NewsThe unions will start a wage agreement for insurance before the summer

The unions will start a wage agreement for insurance before the summer

Date: April 21, 2024 Time: 20:16:16

The unions continue to pressure the insurance employer, Unespa, which represents Segurcaixa Adeslas, Mutua Madriles Occatede, among others, to open the OB Servatorio SecTORIAL AND TO NEGOTIATE A Salary Increase That Compensates For The Loss Of Purchasing Power Due To Inflation. This is not the first attempt, both the UGT and the Comisiones Obreras have met with Unespa on several occasions, the first time in January, to address this issue, especially taking into account that the bank employers agreed to a salary increase for workers in the financial sector of the 4.5% in 2023.

However, despite the failed attempts, this time the social agents are more optimistic and trust that the sectorial Observatory that will allow the reopening of the insurance sector agreement will meet at the end of June or beginning of July. At the latest before July 15, they point out from the Workers’ Commissions, while the UGT adds that the document they are working with is quite advanced and that the last fringes would be missing.

The proposal would consist of two parts. On the one hand, a single payment corresponding to a 3% salary increase for the years 2021 and 2022, which would mean an average of 700 euros per worker to compensate for the deviation in prices. Here the most complicated thing recognizes the social agents is to marry it with the compensation payments for inflation that the largest insurers have been approving.

Mapfre was one of the first companies to opt for these payments, when it made a first one of 350 euros and another of 400 euros. Generali also made a single payment of 300 euros in the summer of last year; Reale Seguros of 500, MGS Seguros y Reaseguros of 300 euros in September 2022 and another 500 this January. For their part, Liberty and Zurich paid 750 euros each. Finally, in January Línea Directa made an extraordinary payment to its 2,500 employees of 1% of their salary with a minimum import of 300 euros.

The other part would consist of the opening of the agreement that included a 3% salary increase in both 2023 and 2024. In this sense, it must be taken into account that this year an increase of 1.44% is contemplated. In addition, as they remember from UGT, salary increases take into account the CPI and the evolution of GDP, so that by 2024, the increase could be 1.8%, a percentage that they qualify as insufficient to compensate for the loss of purchasing power of workers. workers in the insurance industry.

10% loss in purchasing power

In fact, the unions estimate the loss of the two previous years (2022 and 2021) at 10% and insist on the urgency of proceeding to reopen the agreement since, if not, the accumulated percentage could rise to 15%. As for the workers affected, these would be around 75,000 if mutual employees are taken into account, of which just over 52,000 would be workers of insurance companies. However, from UGT we believe that for the latter the negotiation is complicated because the salary increases are included in the General Budget Law.

For its part, Comisiones Obreras believes that there are necessary reasons to reopen the negotiations because considering that the income of the insurers and the results they present are good, despite the rise in inflation and the increase in the accident rate, which would be offset due to the increase in the price of premiums and higher financial income due to the rise in interest rates.

From the unions they adopt that the opening of the agreements of the financial sector serves as a guide. Precisely, at the end of last year, the workers’ representatives managed to reopen the agreements of the Spanish Banking Association (AEB) and CECA, which include the old savings banks led by Caixabank, to compensate for the loss of purchasing power of employees in the financial sector (about 100,000). For these they approved an increase of 4.5% for this year, although they promised to closely follow the evolution of prices.

However, recently, the unions have announced that they will again negotiate a salary increase, above what was agreed in the initial agreement, for the next financial year 2024, based on how inflation is evolving, since they calculate that the loss increases at 6%

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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