2023 collective agreement: Key points of the agreement

If Finansforbundet’s Assembly of Representatives decides to go forward with the result, the members are to decide on the new collective agreement by casting their votes in an electronic ballot.

Before that, members and union representatives will, of course, receive a lot more information on the content of the collective agreement and the next steps.

The key points of the agreement:

Applies for two years

A two-year agreement, ending on 31 March 2025.

Noticeable pay rises

Wages increase by a total 8.2 per cent over two years: 4.5 per cent in 2023 and 3.7 per cent in 2024.

In the standard collective agreement, the agreed pay rises are distributed as follows:

• 1 July 2023: 4.5 per cent for general pay rises for everyone
• 1 July 2024: 3.7 per cent, which includes 2.7 per cent for general pay rises and a possibility for 1.0 per cent for the local salary pool

In the corporate collective agreements, 5.2 per cent have been allocated to general pay rises for all employees as well as a local financial pool of 3.0 per cent. The application of the local financial pool is agreed locally.

The general pay rises and local financial pool are distributed as follows:

• 1 July 2023: 3.0 per cent for general pay rises, and 1.50 per cent for the local financial pool, 4.5 per cent in total
• 1 July 2024: 2.2 per cent for general pay rises, and 1.50 per cent for the local financial pool, 3.7 per cent in total

Maternity/paternity leave improvements

Paid leave for fathers and co-mothers is extended by 10 weeks to a total of 26 weeks with full pay and pension.

Working groups on late career matters and data ethics

The parties will, during the term of the collective agreement, establish a late career working group to discuss the retention of senior employees and a data ethics working group to discuss the development of data ethics for the benefit of businesses and employees.

Better framework for the work of union representatives

The conditions for the union representatives’ work related to personnel cases and sickness absence are improved, and it is clarified that delegates must be given the needed time for professional work.

More flexible framework for remote working

The parties agree to introduce more flexibility in the use of teleworking and establish a more flexible framework for working from home, the aim being to enhance employee well-being and work-life flexibility for the benefit of both businesses and employees.