On March 02 and following four months of negotiations, Finansförbundet (Financial Sector Union of Sweden) and BAO (Employers’ Organization of the Swedish Banking Institutions) signed a new pay and conditions agreement. The union was looking to significantly raise the amount of the highly contentious individual guarantee element that had been negotiated at the end of 2013. The union is pleased with the results of the negotiations and of a general policy that benefits the lower paid.
An overall rise in salaries. As before, the agreement covers a minimum 3-year period, so this agreement will stick until 2018 and neither party can criticize until then. “We achieved most of what are members were looking for. It is a good deal. Negotiations were tough and we are pleased to have come to an agreement.” Stated Ulrika Boethius, President of Finansförbundet. A report on salary levels and their developments over the 12 month period from October 2013 had been requested by both organiz
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