The insurer will increase base salaries by between 7% and 15%, and these measures apply to all employees nationwide.
Zurich announced on Wednesday an increase in salaries, allowances and benefits for its employees in response to the rising cost of living. The insurer will increase base salaries by between 7% and 15% and these measures apply to all employees nationwide.
“In response to cost of living increases resulting from the current inflation situation, Zurich implemented a set of transversal measures to more than 500 employees in Portugal. The measures focused on wage increases, increased food and hybrid work allowances and extended benefits were recently announced and reflected in the January salary processing,” reads a statement sent to Notícias ao Minuto.
Regarding wage increases, the higher percentages were “applied to the lower wage brackets and vice versa,” details the insurer.
“Zurich guaranteed two premises: that all employees had increases at least at the level of the 2022 inflation rate and that were increased at least 100 euros/month. The scholarships of the interns of the Zurich Graduate Program – annual program for the admission of interns -, were also updated to 1,000 euros/month,” it can also be read.
The meal allowance was increased by about 11.65%, from 10.75 euros/day to 12 euros/day.
The value of the hybrid work subsidy – implemented at Zurich since January 2022 – was increased by about 10.2%, from 36 euros/month to 39.65 euros/month.
In terms of benefits, Zurich extended the health insurance ‘Zurich Health’ to the third member of the household, covering 100% of the insurance.