New collective agreement reached: These are the main points
A new three-year collective agreement has just been agreed for the financial sector. Get the main points of the agreement here.
Main points of the agreement
Term
If approved by Finansforbundet’s Assembly of Representatives and members by ballot, the term of the agreement is from 1 April 2025 to 31 March 2028
Salary
The agreed salary level is 2.4%, 2.5% and 2.5% annually and thus 7.4% for the entire period.
Annually, 0.6% of the amount may be used as local pools if a company adds 0.4% to the pool.
In this case, the salary level for the period will be 8.6% of which 5.6% is guaranteed as general salary increases.
Better skills enhancement opportunities
Funding for Finanskompetencepuljen (Finance Competence Fund) is significantly increased
Establishment of a “free-choice bank” and greater flexibility in a number of specific life situations
In future, the existing time bank will become a free-choice bank, providing even better opportunities for flexible spending of accumulated overtime on, for instance, caring for someone who is dying, time off for fertility treatment and the opportunity to take holiday on days of special importance. Moreover, it provides a more flexible framework for organising senior part-time employment
The trade union system is incorporated in the onboarding of new employees
All new employees in the sector are given the opportunity to be introduced to their local union representative
Who is covered by the collective agreement?
The collective agreement applies to employees of organisations that are members of Finance Denmark/Employer and, thus, covered by the standard collective agreement (STOK).
In the coming months, a number of financial services enterprises will also be negotiating local enterprise-level agreements (VOK). The enterprise-level agreements will be based on the main result, but be adapted to local conditions.
Next steps
The agreement will now be discussed at a meeting of the Assembly of Representatives at Finansforbundet on 25 February.
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. If accepted by the members, the new collective agreement enters into force on 1 April.