Insurance social partners reached, on the night of June 7, a deal for a 5.4 percent wage increase divided in two over 24 months. The agreement covers about 95 percent of the sector’s employees, i.e. nearly 172,000 people. The compromise was reached after a confrontation that lasted several months. Since the previous agreement expired on March 31, 2013, April, may, June and July won’t be included in the agreement, which will start with a first payment on August 1, 2013 and expire on March 31, 2015. This agreement doesn’t cover people working in outside advising/marketing networks. The AGV employers’ organization claims that this will lead to a real annual wage increase of 2.14 percent. (Ref. 130385)
Real 2.14 percent annual increase. The 3rd bargaining round between the social partners in the insurance businesses, held on Friday, June 7 in Hamburg, started after a series of strikes in a sector not really accustomed to social action. These strikes were held because of the unusually long negotiations, which started in February 2013 when the previous pay deal was to expire on March 31. the three unions sitting around the bargaining table – the Verdi services union and the two small unions
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