See the collective agreement

Get a general idea of the companies in the financial sector that have a collective agreement and read about the contents of the most recent collective agreement between Finansforbundet (Financial Services Union Denmark) and the Danish Employers’ Association for the Financial Sector (FA).

​When you are employed in the financial sector, and your company has entered into a collective agreement with Finansforbundet, you can find provisions about your pay and employment terms in one of the following places:

  • In the standard collective agreement between Finansforbundet and the Employers' Association for the Financial Sector (FA).
  • in a collective agreement with an employer outside the FA
  • in a corporate collective agreement entered into between an undertaking and a representative of an employee organisation, e.g. a union branch, a staff association or a shop steward.

If you are an insurance agent and employed with an insurance company, you will generally be covered by the Framework Agreement between Finansforbundet and the FA and by the local agreement between the Association of Insurance Agents and the insurance company about pay and employment terms.

No later than one month after your employment, you must receive an employment contract, stating which collective agreement applies. It must also include information about pay, place of work, working hours and work content. Furthermore, it must state whether special terms apply regarding overtime, notice periods, non-competition clauses, probation, etc.

Collective agreement for insurance agents (PDF with download option, Danish)

Collective agreement for insurance agents (online flip-through version without download option, Danish)

See which companies have a collective agreement

Companies that are members of the Employers' Association for the Financial Sector (FA) are covered by the Standard Collective Agreement (SCA) concluded between Finansforbundet and the FA.

Here you find the companies in the financial sector that are members of the FA and covered by the SCA (PDF, Danish)

Some companies covered by the SCA have also entered into a corporate collective agreement (CCA) – see below:


Companies with a corporate collective agreement (CCA)

Danske Bank (PDF)

EkspresBank A/S (PDF, Danish)

The Financial Sector's Training Centre (PDF, Danish)

JN Data A/S (PDF, Danish)

Jyske Bank (PDF, Danish)

Nordea Bank Danmark A/S (PDF)

FONLP (PDF, Danish)

Nykredit Bank (PDF, Danish)

Ringkjøbing Landbobank (PDF, Danish)


Companies with a special collective agreement – not members of the FA

IBM – company agreement (PDF, Danish)

Banking Circle (PDF, English)

BankNordik, the Faroe Islands (PDF, Danish)

Keylane Denmark, formerly Schantz (PDF, Danish)

Silkeborg Data (PDF, Danish)

Pensam Bank (PDF, Danish)


Collective agreement 2016 between Finansforbundet and the Greenland Business Association (PDF, Danish)


Companies with an adoption agreement – not members of the FA

  • Alm. Brand Bilkredit & Leasing A/S
  • BNP Paribas Fortis Denmark
  • Formuepleje
  • Andelskassen J.A.K. Slagelse
  • Citibank N.A.
  • Eurogiro Holding A/S
  • Fondsmæglerselskabet Investering & Tryghed A/S
  • Andelskassen Fælleskassen
  • GE-Capital Bank Danmark
  • Schroder Investment Management Fondsmæglerselskab A/S

See the contents of the most recent collective agreement

The most recent standard collective agreement took effect on 1 April 2017.

Read the entire collective agreement in an online flip-through version (Danish)

Download the entire collective agreement (PDF)

You can read about the most important contents of the collective agreement below:


The FA and Finansforbundet have agreed on a new three-year collective agreement.

More money for skills development

The skills development pool is made permanent and is increased by DKK 10 million annually, which will be targeted at company projects focusing on the skills development of employees. The other half of the pool of approximately DKK 20 million annually is primarily targeted at skills development as needed by individual employees.

Moreover, the training and education contribution is increased by 5.85 percent, corresponding to DKK 50, to a total of DKK 900 annually per employee.

This means that an amount of approximately DKK 200 million will be available for skills development in the entire term of the collective agreement.

In connection with statutory tests and certifications, employees will have the option of skills development and preparation during working hours.

Pay increases of 5.85 percent

The overall financial framework over three years is 6 percent.

General pay increases of 5.85 percent have been agreed in the standard collective agreement during the term of the agreement. The general pay increases are distributed as follows:

  • 1 July 2017                1.90 percent
  • 1 July 2018                1.95 percent
  • 1 July 2019                2.00 percent

The corporate collective agreements provide for general pay increases of 4.20 percent to all employees during the term of the collective agreements, as well as a local financial framework of 1.65 percent. The application of the local financial framework is agreed locally.

The general pay increases and the local financial framework are distributed as follows:

  • 1 July 2017 1.40 percent and 0.50 percent in local framework, totalling 1.90 percent.
  • 1 July 2018 1.40 percent and 0.55 percent in local framework, totalling 1.95 percent.
  • 1 July 2019 1.40 percent and 0.60 percent in local framework, totalling 2.00 percent.

Fixed rates in the collective agreements are adjusted by the same percentage rates and at the same times as the general pay increases.

On transferring from pay level 1 to pay level 2, employees will no longer go up 16 pay scales. In future, employees must be placed at least at pay scale 50 when they go up from pay level 1 to pay level 2.

Pay scales have been agreed for IT trainees in the standard collective agreement.

In future, specialist supplements are pensionable.

The IT assistant education programme no longer exists and is consequently replaced by the IT technologist education programme.

In case of postponed rest hours as a result of ordered overtime or additional work, it is now agreed locally how the postponement will be compensated.

Additional flexibility in the pension area is now possible. In future, employees who have reached the age at which pension is payable according to the Danish Pension Taxation Act in force from time to time will have the option of financing a reduction in working hours by a pro rata disbursement of their pension.

New working hour regulations

The notice of overtime/additional work in weekends and on weekday holidays is extended from two to four days.

In connection with an employee's own notice of termination, the sixth holiday week may also be paid out if the employee cannot take it in the notice period due to the company's circumstances.

Management and the union representative will now have the opportunity to make an agreement on changing the supplement rates in connection with special work tasks of a marketing nature – article 9 of the SCA.

Better conditions for union work

Better conditions for union work have been agreed, as, in future, it must be ensured that the shop steward can be present at all interviews in the event of several dismissals or pay reductions.

It has been clarified that in connection with the annual consultation meeting, an assessment must be made of whether an adjustment of the shop steward's ordinary tasks is needed.

In future, employees must have one year's length of service to be elected shop steward.

Better social provisions

A number of improvements of the social provisions have been agreed.

In future, employees over 65 will also be entitled to severance pay, etc., unless, in connection with his/her resignation, the employee retires from the company with pension, or if the employee has reached the state pension age applying from time to time.

The companies undertake to improve the support given to employees suffering from stress.

In future, life insurance and critical illness insurance also applies to employees over 70 if they are working.

The FA and Finansforbundet agree to put additional focus on "Sustainable Working Life" during the term of the collective agreement.

The agreement on mitigating measures is continued and improved to the effect that the agreement also applies to individual dismissals and not only in case of mass dismissals. On the other hand, students are no longer covered by the mitigating measures.

The health insurance under the collective agreement is improved by adding mandatory dental treatment to the health insurance. Dental treatment is introduced as a three-year trial period.

New dental insurance

With effect from 1 July 2017, the collective agreement will include dental treatment insurance with an annual maximum excess of DKK 995, a maximum annual limit for treatment of DKK 30,000 and the free choice of dentist within the EU.

However, the individual company takes out the insurance and negotiates the insurance terms. Consequently, there may be differences from one company to another as regards the types of injury/treatment covered. Your union representative in the company knows of the level of cover that formed the basis for the new provision in the collective agreement, and will, together with the company, ensure that your dental insurance will be at a corresponding level.

Consequently, you should wait for the company to take out insurance and then examine the applicable insurance terms. If you have any questions to the company's dental insurance, you can contact the company, your union representative or the insurance company selected, as in the case of questions to the health insurance.

Greater freedom of contract in the corporate collective agreements

The corporate collective agreements will have greater freedom of contract in relation to working hour regulations.

Thus, the local parties will have more opportunities for tailoring the major part of the working hour regulations to the circumstances in precisely their company.

The working hour regulations regarding the annual norm, public holidays, hour bank and flexitime are maintained in their present form.

The calculation principles of the main agreement are clarified as regards the value of pay and employment terms in connection with transfer from a corporate collective agreement (CCA) to the standard collective agreement (SCA). 

Especially for insurance agents

The FA and Finansforbundet are also agreed about a new three-year Framework Agreement for insurance agents, which runs from 2017 to 2020.

The minimum salaries of the Framework Agreement are adjusted by 2 percent annually in the term of the collective agreement.

Increased focus on the insurance agents' job satisfaction. A working party will be set up with representatives of the FA and Finansforbundet which will consider how job satisfaction can be improved.

Possibility of skills enhancement for insurance agents elected as union representatives in connection with the transfer from board duties to a position without union work.

Increased flexibility in connection with the taking of paternity and parental leave. In future, the four weeks of paternity leave can be taken in periods of two weeks, and the ten weeks of parental leave can be taken as two consecutive periods of five weeks.

The basis of calculation of the Framework Agreement regarding holiday allowance and pay is updated and streamlined.