Abn Amro Collective Labour Agreement

ABN AMRO and the unions have not agreed on a new collective agreement (CLA) which is the main one in terms of wages. The bank has just submitted a final offer to the unions FNV Finance, De Unie and CNV Vakmensen. The offer includes a modern employment package tailored to the current bank and presents a new approach to performance management, employability and well-being. The package also proposes a concrete agreement on the employment of people with disabilities and provides for a structural increase in wages. The unions will present the negotiated result to their members this month and ask them to respond by September 26. In the meantime, ABN AMRO`s pension fund will consider whether the management of the pension fund`s new pension plan will be feasible. If union members vote in support, the pension fund can implement the pension plan, social plan, new collective agreement and new pension plan on January 1, 2020. In early March, the unions stopped negotiating a new collective agreement because they wanted to consult their ranks and files before proceeding. Last night, the parties secured a negotiating result for a new social plan and a new collective agreement (CLA) for 2020 and 2021, as well as a new retirement plan for the years 2020 to 2024. The main results are listed below. The bank and trade unions have agreed to raise wages twice, by 2.75% each: first on 1 April 2020 and again on 1 April 2021. In this way, the Bank meets the public demand for higher wages. In 2019, the average increase in conventional wages in the Netherlands was 2.75%.

They stated that the negotiations were complicated because they would cover not only new pension schemes, but also other working conditions. In the Netherlands, ABN AMRO is the leader in diversity. We are working to hire 225 people with disabilities as part of the country`s social agreement. In addition, our “Warm Welcome” project has provided us with excellent experiences, which focus on hiring people further from the labour market. They provide a warm welcome from our old-year customers, and we will continue to develop this project The proposed employment package includes a two-year employment contract until January 1, 2020. The unions agreed to put this final offer to the vote of their members. Due to the COVID 19 pandemic, unions have not yet been able to consult with their members at briefings. By Frank van Alphen, Sameer van Alfen2020-05-26T12:11:00-01:00 According to statistics from Supervisor De Nederlandsche Bank, abn Amro Pensioenfonds has covered more than 100% of the rate risk on its commitments. Senior Press Officer Strategy, Corporate Affairs, Finance – Risk ABN AMRO announces net income of 301 million euros in the third quarter of 2020. At the end of April, the level of funding was 130%, which means that the pension fund is doing significantly better than many of the major plans in the industry. Partners will have more time to enjoy their newborn together.

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