The Fiji Bank Employees Union says the decision by the Fiji National Provident Fund not to pay its members their COLA payments, annual increments or bonuses, has left them with no choice but to strike.
About 200 FNPF employees walked off their jobs at midday yesterday and members they will continue to protest nationwide today.
The union's general secretary, Pramod Rae, says the decision not to pay his members was made at a board meeting on Tuesday night.
"We really can not understand the reasons for this, there was no consultation with the union, the acting chief executive, immediately after the board meeting made the annoucement to the staff and left the country. So are members are really at a loss a week before Christmas."
The Fiji Bank Employees Union's general secretary, Pramod Rae.
The FNPF board chairman, Peceli Vocea, maintains that the board will stand by its decision.
Meanwhile, the Ministry of Labour has declared the strike legal, saying it followed proper procedures under the Trade Unions Act.