Portuguese banking union seeks legislative initiative for pensions

The National Union of Banking Executives and Technicians (SNQTB) has announced plans to convert its ‘In Defense of Pensions’ petition into a Citizen Legislative Initiative to be submitted to the Assembly of the Republic.

The petition has gathered 19,089 signatures, nearing the 20,000 required to trigger a formal legislative proposal. The union is calling for a final mobilization of active and retired bankers, as well as their families, to reach the necessary threshold.

The initiative addresses the coordination between pensions established in banking sector collective bargaining agreements and those provided by Social Security and the Caixa Geral de Aposentações (CGA). While courts mandated corrections to pension calculations in 2023 based on the principle of direct proportionality, the SNQTB maintains that fundamental issues remain unresolved, causing financial prejudice to retired bankers.