The UGT, Comfia-CCOO and FITC unions announced that they signed an agreement with the management of Banco Santander on the conditions to outsource supplementary pensions which will, in the future, be managed by an insurance company. This agreement is the result of six years of negotiations. It will apply to employees hired before March 8, 1980, i.e. 4,200 people. (Ref. 120518)
The bank and trade unions agreed to outsource the company’s internal fund to an insurance company. Banco Santander was the only financial entity which had not yet outsourced its employees’ pensions, because of an exception in the existing law. This draft agreement now needs to be validated by the insurance companies, as Ildefonso Sanchez UGT representative at Santander, pointed out. Here are the points in the agreement highlighted by the trade unions:
- The agreement affects all employees hire
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