New standard collective agreement – what happens now?
A 3-year collective agreement has now been agreed up for the entire financial sector - the standard collective agreement (in Danish: Standardoverenskomst - STOK) between Finansforbundet and Finance Denmark/Employer. Before the agreement can be valid, it must be approved by several votings.
First step: Voting among the Board of Representatives
The first voting will take place at Finansforbundet's Board of Representatives in Nyborg on 25 February. The Board of Representatives must approve the agreement by voting.
Next step: Voting among members
If the Board of Representatives approves the agreement, all of Finansforbundet's union representatives will be invited to information meetings about the content, and Finansforbundet will also communicate about the content to the members. It will then be sent to a voting among all members of Finansforbundet. Here, a majority must vote yes to the content of the new collective agreement.
What is the impact for us at Finansforbundet in Nordea?
Once the standard collective agreement has been approved, Finansforbundet in Nordea and Nordea must – based on the content of the "big agreement" – negotiate our local company collective agreement (in Danish: Virksomhedsoverenskomst - VOK). When the local company agreement has been negotiated, Finansforbundet in Nordea's union representatives will be invited to information meetings about the content, and we will communicate in more detail on Intra and our website.
We will then send the company agreement for voting among the members of Finansforbundet in Nordea. If a majority votes yes, it will enter into force.
The collective agreements will apply from 1 April 2025 to 31 March 2028 – even if the votings are completed after 1 April.
You have to vote twice!
The content of the standard collective agreement (STOK) applies to the entire financial sector, whereas the company collective agreement (VOK) only applies to employees of Nordea.
Therefore, you must vote on both agreements – first on the STOK and then on the VOK. However, it is important to emphasize that elements of the VOK may change in relation to what has been agreed in the STOK.
You will learn much more about both agreements before you cast your vote, including when the votes will take place – it has not been determined yet.
Remember to check your information
In order to vote electronically, your information in "Mit forbund" must be up to date. Check your information here.
Special circumstances for contract employees
If you are employed on an individual contract, parts of the content of the collective agreements, e.g. insurance, will also apply to you. Other elements can have a effect on your conditions as a contract employee.
Read our new page about your terms of employment as an employee on an individual contract
More information
You can read about the main points of the standard collective agreement here.