New collective agreement ratified by the members

93.3 per cent.

This many voted yes at the ballot on the new collective agreement that was negotiated by Finansforbundet and the Danish Employers' Association for the Financial Sector (FA) in the beginning of March.

A total of 71.1 per cent of about 33,000 members eligible to vote chose to cast their vote.

And Kent Petersen, President of Finansforbundet, is pleased with the high voter turnout.

"I am extremely happy that the members have pledged their support to the collective agreement since they are ultimately the ones we make it for. The result marks the end of a process beginning with input from the members and ending in a collective agreement, and it is extremely important that there is commitment and satisfaction among those who will be using it every day. And this was clearly what we saw among the union representatives we met after the negotiations, and it is also reflected in the way our members have voted", he says.

6.4 per cent voted against, and 0.3 per cent cast a blank vote.

Salary increases and better maternity/paternity terms

The ballot closed Friday afternoon after opening on 16 March.

The new two-year agreement enters into force on 1 April, whereas salaries are adjusted as of 1 July.

Among other things, salaries will increase throughout the collective agreement by a total of 8.2 per cent, of which some are for pooled funds to be negotiated locally. The maternity/paternity rights of fathers and co-mothers are improved, going forward entitling them to 26 weeks of leave with full pay against previously 16 weeks.

"We started the negotiations on a difficult basis with inflation, economic instability and a clear demand among our members for salary increases. Admittedly, the negotiations were tough, but I do find that we have achieved a really good result. Not only have we reached a reasonable salary development, but we have also negotiated important working life aspects for our members – for example, we are the first to present a collective agreement that introduces true gender equality in maternity/paternity leave," says Kent Petersen.