ABN AMRO: new collective labor agreement and social plan from 1 January 2020
December 9 2019
The ABN AMRO Pension Fund reached agreement with the bank on 9 December 2019 about the implementation of the new pension scheme. This is part of the new CLA. This means that the new collective labor agreement and the new social plan for 2020 and 2021 will take effect from 1 January next.
More salary, a lower pension premium, an extra week of vacation and five Banking for Better days. These are the most important parts of the new collective labor agreement that will take effect on 1 January 2020.
The new collective labor agreement and the new social plan (for 2020 and 2021) and the new pension scheme (for 2020 to 2024) were drawn up after constructive negotiations, to which the members of the unions have agreed.
Conclusion ABN AMRO Pension Fund
One of the conditions of the agreement was that the Pension Fund can implement the scheme. The ABN AMRO Pension Fund is of the opinion that the proposed new pension scheme is feasible. The fund has also set the accrual percentage for 2020 at the target 1,875%. If interest rates remain as low as now, the expectation is that the accrual rate for 2020-2024 will be 1,7% on average, approximately 10% lower than intended.
More about the new collective labor agreement
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