Financial sector: trade unions and employers agree on new collective labor agreement

The new sector agreement consists of three pillars that will apply in the coming two years in terms of purchasing power, workable work and training.

At sector level, a net benefit of EUR 250 is granted to bank employees. This can take the form of a corona premium or something else. At company level, this benefit can be supplemented within the framework and limits of the intersectoral provisions regarding the granting of the corona premium (max. 500 euros). The social partners have also agreed to increase the two lowest salary scales for white-collar workers by 0.4%.

The negotiators also reached an agreement on the runways. In the period from 2021 to 30 June 2023, bank employees have access to 1/5 or half-time time credit from the age of 55.

In addition, an in-depth reflection will take place next year within a joint working group on teleworking policy, the right to disconnection and trade union communication within the banking sector.

Thanks to a collective labor agreement for “risk groups” and an agreement on training, the joint fund will be able to continue its initiatives under Fin Talent, the umbrella term for the various training projects for employees from the financial sector.

The three pillars will soon be formalized in a new collective labor agreement for the next two years in a meeting of the joint committee.

“Despite these difficult times, the bank employees have made enormous efforts and that was certainly not easy. We are very grateful to them for that. That is why we are pleased that the text of the new collective labor agreement has been approved by all partners around the table. This agreement allows us, among other things, to continue to stimulate lifelong learning and to warm up new talent to our sector," says Karel Baert, CEO of Febelfin.