Banks are illegally appropriating workers’ pension increases

It is “illicit enrichment” that can result in losses of tens of thousands of euros for bank employees who retired from 2011 onwards, says the SNQTB.

The difference between pension updates made by the State and those proposed by banks is being illegally appropriated by the banksays the National Union of Banking Staff and Technicians (SNQTB).

The illegal appropriation, denounced by this union, wasconfirmed by a legal opinion which considers that banks are, in fact, appropriating the difference between pension updates made by the State and those negotiated with the financial sector, says Jornal Económico this Thursday.

“A pure and simple economic absorption of this benefit by the banking institution to the detriment of the worker will imply, in principle, an invalidation of the purpose pursued by the legal framework of the measure, proving, in this sense, incompatible with the principle of legality”, reveals the opinion.

It is “illicit enrichment” that can result in losses of tens of thousands of euros for bank employees who retired from 2011, when they switched to Social Security, warns the president of SNQTB Paulo Marcos.

“Pension updates, supported by Social Security or CGA, must comply with the same previous rules, as well as the proportionality rule itself, and cannot, under any circumstances, revert entirely to the Banks”, can be read in a statement from the union.

“The pension bonus paid by Social Security, as a reward for months or years of contributions registered beyond the legal or personal retirement age, must revert entirely to the banking reformnot being subject to any deduction by credit institutions“, it can also be read.

SNQTB ensures that this information is supported “by a legal opinion from a renowned constitutionalist that the union took care to obtain”.