AEBU voted yesterday in its general assembly —with a presence of more than 3,300 affiliates, between active and passive workers and a total of around 14,000 qualified to vote— the pre-agreed project that the central council led to antel arena to detail and put into consideration of the union, which was approved by 70% of those present.
Now, the proposal must be converted into a bill and approved by Parliament before October 30, as soon as an election year is entered.
A plan with equal contributions
The document approved by the assembly started from the premise that the financial rescue of the bank account It will be carried out with the equitable contribution of the three parties involved: workers and retirees from the sector, private banks and the State —through the government. The estimated total to overcome the crisis of the social security institute is $1.2 billion.
In the case of the government, the contribution will arise from the issuance of a sovereign guarantee so that the bank account can access financing up to 400 million dollars. The bonds they would be issued by the institute before the end of the year.
The contribution of the private banks, Meanwhile, it will reach another 400 million dollars. Although the contribution format has not yet been defined, it is very likely that it contemplates the increase in Employer Complementary Benefit (PCP).
Finally, workers will have a basic transition process towards a increase in retirement age —at 63 years and, later, at 65 years, with the aim of guaranteeing a greater amount of social security contributions to the institution—, maintaining the parameters of Law 18,396. In this way, those who retire at the minimum age will apply a Basic Retirement Salary and one Replacement Rate that lead to a retirement between 8% and 15% lower, depending on the individual case. In turn, those who are reached by the maximum pension (cap) will have a reduction that can reach up to 20%.
Also, it was agreed 4% tax for already retired workers in the sector.
The position of private banks
For her part, the Association of Private Banks of Uruguay (ABPU) also approved a joint solution between workers, companies and banks to finance the deficit that the Bank Box.
From APBU They highlighted in a statement the “agreed exit” after what they described as a “dialogue position and search for solutions, beyond some conflicts. In the sector they estimated that the financing needs of the bank account It is estimated at around 900 million dollars until 2035, an amount that will be paid “with contributions from all the actors in the system.”
When specifying the role of each one of the actors, from the association they indicated that the workers will receive retirements that “gradually they will converge to retirement conditions closer to those of the general regime”.
From ABPU They highlighted the contribution of companies. “Through an increase in the employer’s complementary benefit and, in the case of banks, is added, for 8 years, to a paratribute to be created”, they pointed out in the statement and clarified that “the banks They are the ones who make the most effort, since most of the current liabilities are former bank workers”.
Meanwhile, for the private banks the additional contribution in this period will exceed 175 million dollars. “With this burden, in 2024, member banks of ABPU they will face an employer contribution of 54.1%”, they observed.
Source: Ambito
