CBWO fears precedent from partial implementation of Central Bank wage decision

The employees of the Centrale Bank van Suriname have stopped work because, according to the union, management is not fully complying with the final ruling on employment conditions. The Bemiddelingsraad set a structural wage increase of 14 to 16 percent, depending on the income category.

The Centrale Bank has since paid out a lump sum and increased the transport allowance by 12 percent. For wages, however, management announced an increase of 11.4 percent, retroactive to January 1, 2026. The CBWO does not accept that percentage.

Disagreement over employee contributions

According to Berenstein, the bank’s management links the full wage adjustment to agreements on employee contributions towards pensions and healthcare costs. The CBWO maintains that the two matters should be dealt with separately.

During the mediation process, management proposed requiring employees to contribute towards their pension and healthcare arrangements in the future. According to the union, no amounts are currently deducted from salaries for this purpose.

The Bemiddelingsraad has not set a percentage on this matter. According to Berenstein, the final ruling states that any employee contribution must be discussed separately by management and the union. “Wij schuwen geen overleg” (We do not shy away from consultation), Berenstein said on Monday during a press conference by trade union federation C-47. However, the CBWO does not want these talks to be used as a condition for the full implementation of the wage agreements.

In the event of employee contributions, the union also wants clarity on what staff will receive in return. This includes, among other things, the quality of the healthcare arrangement and the details of the pension scheme.

Different increases by income group

The final ruling provides for a 16 percent wage increase for employees earning up to SRD 30,000 a month. The following income groups will receive increases of 15.5 and 15 percent. Employees with a salary above SRD 90,000 will receive 14 percent more.

The average wage adjustment therefore amounts to 15.1 percent. In addition, an income-dependent lump sum has been set. Employees in the lowest income category will receive one-and-a-half months’ salary. For the higher categories, this decreases to 1.25 months, one month and ultimately 0.75 months.

Final ruling binding under collective agreement

Berenstein acknowledges that legal experts hold differing views on the legal status of rulings by the Bemiddelingsraad. According to him, this is not decisive in this dispute because the collective labour agreement between the Centrale Bank and the CBWO stipulates that a requested final ruling is binding.

Management reportedly did not indicate that it considers the ruling non-binding. According to the union, the dispute primarily concerns the manner in which the bank implements the ruling.

The CBWO maintains that the bank cannot implement the ruling partially or on the basis of its own interpretation. If this is allowed, Berenstein said, it could weaken the position of employees and trade unions in future labour disputes.

Bemiddelingsraad calls parties together

The Bemiddelingsraad has invited management and the workers’ organisation for consultations on Monday evening. The CBWO will maintain its demand that the final ruling be implemented “naar letter en geest” (to the letter and in spirit).

The outcome of the talks will be presented to a general membership meeting on Tuesday. Members will then decide whether and how the actions will continue. According to Berenstein, the work stoppage is not an end in itself, but a means of enforcing the full implementation of the agreed wage arrangements.