The Mps group has reached an agreement with Fabi, First, Fisac, Uilca and Unisin with which it will manage 3,500 releases by November 30, with voluntary participation, in accordance with the 2022-2026 Industrial Plan. The agreement also includes a recruitment plan to the extent of one every 2 exits. The agreement is based on early retirement through the 7-year solidarity fund, as envisaged by an amendment to the milleproroghe, valid only until November 30, as well as on the important capital increase that will be used to cover the costs of the operation. Tomorrow the half-yearly accounts will be illustrated by the managing director Luigi Lovaglio, which will have to be approved by the board of directors scheduled for today.
Deadlines and additions
Those who belong to the professional areas and managers who mature the right to an Ago pension by 1 December 2029 are expected to leave by 1 December 2029. Applications must be submitted by 28 September 2022. To those with ordinary salary net (RON) up to 2,850 euros, the integration of the extraordinary allowance is guaranteed to the extent of 85% of the RON. Who has a higher salary / is guaranteed the integration of the extraordinary allowance in the measure of 80% of the RON.
Health care and subsidized credit conditions
During their stay on the fund, the Mps bankers will maintain the Medical Expense Reimbursement Program, the credit facilities, conditions and services in force from time to time for the staff in service. The hiring by direct call of the spouse or child of the deceased employee is also envisaged while treating the Fund. The company also undertakes to evaluate the possible access to the fund for executives and to seek shared solutions in the event of regulatory changes on the requirements for access to the AGO pension that may impact on members of the Fund. As an alternative option to voluntary access to the Fund, it will be possible to terminate the employment relationship with incentives by mutual consent by 1 December 2022.
The reactions of the trade unions
The national and administrative secretary Fabi and Fabi coordinator in the Monte dei Paschi di Siena group, Franco Casini, affirms that the union will “constantly ensure that every issue is respected”. This is an agreement that “represents a further confirmation of the high sense of responsibility that characterizes both the trade unions and the workers of MPS”. The hope, Casini continues, is that “the shareholder and the bank confirm the will to preserve the autonomy of Mps and to safeguard its brand, a very precious asset that in the past has been trampled on and damaged by insane management and has been preserved, instead, only thanks to the sacrifices, self-denial and determination of the workers of Montepaschi ». Sabrina Brezzo, national secretary of the First CISL, observes that “the workers who fall within the perimeter of access to the Fund will be able to adhere to the best conditions negotiated in the last ten years in the group, while those who are excluded will see their professional skills appropriately valued . And she confirms “the commitment to oversee the implementation of the plan and the achievement of the objectives in order to ensure all the workers of Monte dei Paschi di Siena the future they deserve”. For Luca Faietti, national secretary of Uilca, the agreement “confirms the principle of voluntariness and represents an important step in favoring the relaunch of Monte dei Paschi di Siena and the application of its Industrial Plan, of which we consider fundamental the call to integrity and the identity of the bank “.
The 7-year solidarity fund
The 7-year solidarity fund will be used to reach the numbers. For 2022 alone, in fact, the credit shock absorber will be able to disburse the extraordinary solidarity allowance for a duration of 7 years, as envisaged by an amendment approved during the parliamentary examination of the milleproroghe decree law (legislative decree n.228 / 2021) , notwithstanding the ordinary requirement that the duration is limited to 5 years. Article 3, with amendment 5 -undecies, which was inserted in the course of the conversion into law of Legislative Decree no. 228/2021, renews the derogation, introduced at the time of the Renzi Government with the decree law of 3 May 2016 and valid until 2019, for 2022 only, allowing banks, as part of the voluntary and incentivized exit plans, to use the extraordinary allowance for income support for a period of 7 years, but only for terminations of employment relationships that will take place by 30 November 2022 with the last entry into the fund on 1 December.