Madrid – The UGT union has launched a formal consultation process with workers in Spain’s insurance sector following its rejection of a pre-agreement reached between CCOO and the employer association Unespa. The move comes after a protest held Thursday outside Unespa headquarters, where UGT members voiced concerns over the proposed collective bargaining agreement.
UGT officials state the pre-agreement, negotiated by CCOO, fails to adequately address wage concerns and falls short of the needs of the sector. Specifically, UGT is critical of provisions related to the minimum wage, arguing the agreement does not sufficiently guarantee improvements for lower-paid workers. “The insurance sector needs an agreement that reflects its size, productivity, and strategic importance,” a UGT statement released today read.
The union accuses CCOO of prioritizing a deal over the concerns of its members, alleging a lack of consultation with workers before finalizing the pre-agreement. UGT contends that the proposed wage increases are “almost impossible to achieve” and that many of the rights outlined in the agreement are merely restatements of existing labor laws.
“We are facing a situation where a union that defines itself as ‘majority’ is responsible for losing a historic opportunity to improve the collective bargaining agreement for the sector, without having previously listened to the opinion of the workforce,” the UGT statement continued.
The consultation process will involve explaining the details of the pre-agreement to workers, outlining the potential implications, and gathering direct feedback. UGT has pledged to base its final decision on the outcome of this consultation, emphasizing its commitment to representing the interests of its members.
The pre-agreement reached by CCOO with Unespa includes a 3.5% wage increase for 2025, retroactive to January 1, 2024, and contemplates further increases for 2026, 2027, and 2028 tied to both GDP and the Consumer Price Index (CPI). CCOO estimates this would result in a cumulative wage increase of between 10.5% and 11.1% over the four-year period. However, UGT maintains that this does not adequately address past wage stagnation and the necessitate to restore purchasing power.
The collective bargaining agreement affects more than 52,000 workers in insurance companies and a portion of the 23,000 workers in mutual insurance societies.
As of this afternoon, Unespa and CCOO have not publicly responded to UGT’s criticisms or the announcement of the consultation process.
