FinanceLuxembourg bankers' and insurance associations announce agreement over collective contracts

RTL Today
ALEBA, ABBL, and ACA issued a joint statement on Monday evening, conveying that the agreement spans from 2021 to 2023.

The statement emphasises that the decision was made in light of the current economic climate and designed to be of support to employers and employees.

It was thus decided that salaries will not be raised next year, but that 1% additions will be introduced in 2022 and 2023. When it comes to the insurance sector, the stimulus rate will remain in place and unchanged.

The associations further agreed that future investments into the stability of the sector were to be made. Collective contracts will be modified to provide more security to employees over the age of 50.

No further changes will be introduced at this moment, the statement finally concludes.

PDF: ALEBA, ABBL, and ACA joint press release

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