Caixa Strike Reaches Day 14 in Brazil as Staff at the State Bank Reject a Third Offer on Their Health Plan

Update, 2 October: The strike has reached day 22 and now extends into election week. Read the latest on the walkout, the health-plan impasse and the housing-market impact.

BRAZIL · BUSINESS

Staff at Brazil’s largest state-owned retail bank turned down a third offer on 21 September, and no new vote has been called.

The Caixa strike in Brazil reached its 14th day on Wednesday, after employees rejected the bank’s third offer on 21 September. Many branches stayed shut, and no new proposal or vote date has been announced.

What happened in the Caixa strike vote

Employees of Caixa Econômica Federal, Brazil’s largest state-owned retail bank, rejected the bank’s third offer on Monday 21 September. The vote was held online across the country.

The employees’ executive commission said the great majority of union bases voted no. One count put it at 102 bases against and 30 in favour, which is about 77%. The commission’s own figure of more than 90% does not match that count, and neither side has explained the gap.

Voting ran online from 11am to 6pm on 21 September. It was the third Caixa offer employees had turned down since the talks began.

In the São Paulo, Osasco and region union base, 59.3% of individual votes were against the offer. That figure covers one base, not the whole country.

The Caixa strike began on Thursday 10 September and has no set end date. No fresh offer had been made public by Wednesday.

Why Saúde Caixa is the sticking point

Saúde Caixa is the bank’s health plan for staff, retirees and their dependants. Its cost-sharing rules have been the core of this dispute since June.

The rejected offer would have raised the bank’s funding ceiling from 6.5% to 9% of payroll from 2027. Staff would have paid 3.7% of base pay.

Monthly charges for dependants would have run from R$560 (US$110) to R$900 (US$176). Figures use about 5.11 reais to the dollar on 23 September 2026.

The offer also cut the emergency-room copayment from R$150 (US$29) to R$120 (US$23). It dropped copayments for telemedicine and added a R$3,000 (US$587) bonus tied to targets.

The package also promised no premium rise in 2026, with the bank covering the plan’s deficit that year. Employees still judged the long-term cost split too heavy.

None of this took effect, because employees voted the package down. Unions say the offer does not go far enough on cost-sharing.

How the bank has responded

Caixa had said earlier in September that it could take the dispute to the labour courts. On Sunday 13 September it dropped that plan and reopened talks.

The bank is led by Carlos Vieira, who has been its president since November 2023. He has made no public statement on the outcome of Monday’s vote.

Banco do Brasil, the other big federal bank, settled with its staff on 11 September. That deal ended its part of the wider bank workers’ dispute.

That agreement included a R$3,000 (US$587) bonus, an extra R$360 million (US$70.5 million) for the health fund and longer paternity leave. Of 134 voting bases, 116 approved it.

What still works for customers

Caixa says its social-benefit payment channels are running normally. About 35 million people a month draw benefits through those channels.

Bolsa Família is being paid on its published calendar through 30 September. The Ministry of Social Development put September’s total at R$13.04 billion (US$2.55 billion) for 19.3 million families.

Cash machines, lottery agents, Caixa Aqui correspondents and the bank’s apps remain open. Counter service at branches is the part most affected.

FGTS, the workers’ severance fund, is still taking requests online. Most withdrawals are processed within five working days.

Why the Caixa strike matters to expats and investors

Caixa is Brazil’s largest state-owned retail bank and handles federal benefit payments. Anyone with a property loan or an account there deals with it directly.

Counter business is where the Caixa strike bites, from signatures to document checks and in-branch paperwork. Digital and automated services have stayed open so far.

Neither Caixa nor the unions have published a national count of closed branches. People planning a branch visit should check the Caixa app or call the bank first.

The bank’s own figure of about 35 million monthly benefit recipients shows the reach of its payment network. Branch counters handle the paperwork that apps cannot.

For investors, the number to watch is the bank’s share of the health plan. The rejected offer would have lifted it to 9% of payroll from 2027.

What is not known

Caixa has not given a national total for branches closed or staff on strike. The São Paulo and Osasco union counted 293 closed branches in its own area.

No date has been set for a new offer, a new assembly or a return to the table. The strike command said only that it would announce next steps soon.

No single national percentage of votes against the offer has been released. The published numbers come from separate union bases.

It is also unclear whether Caixa will return to the idea of a labour-court case. Talks have stayed outside the courts since 13 September.

Until a new offer is voted on, the walkout stays in place and counter service stays limited.

More: Brazil news in English, every day from The Rio Times.

Frequently Asked Questions

Is the Caixa strike still on?

Yes, the Caixa strike reached its 14th day on 23 September 2026. Employees rejected the bank’s third offer on 21 September.

What is the dispute about?

Saúde Caixa, the staff health plan. Workers rejected the bank’s cost-sharing terms, including a 3.7% contribution from base pay.

Will my Bolsa Família payment arrive?

Caixa says social-benefit channels are working normally. September payments run on the published calendar through 30 September.

Sources: Agência Brasil, 21 September 2026; Sindicato dos Bancários de São Paulo, Osasco e Região; Exame; Estado de Minas; Poder360; CartaCapital; Brazil’s Ministry of Social Development.