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In January 2018, a new remuneration system at BNP Paribas Fortis, which has been approved by trade unions, will come into effect. Above the gross sum of 4,700 euros, workers’ salaries will be paid in convertible units, rather than in euros. The employee may choose whether to convert these into cash or to use them for training, a company car, IT material, additional holiday, amongst other things. When asked about the legality of such a pay policy, which allows the bank to save on social security contributions, the economy and employment minister Kris Peeters (CD&V) said he believes this pay system is illegal in part and declared his desire to “modernise” the law on pay protection.
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