On 23 April, Finance Norway agreed with the Norwegian Finance Association and the Norwegian Confederation of Trade and Industry and the Trade Union Confederation on a recommended proposal for settlement in the financial industry. All the collective bargaining parties involved have now approved the settlement by the deadline at 12:00 today. The wage regulation can thereby be implemented.
The central agreement
The central agreement’s content was essentially continued unchanged, but with the following technical changes:
- The scope of the Central Agreement is limited to debt collection companies covered by the Debt Collection Agreement, see Central Agreement § 1 (1)
- The new tariff regulation for estate agents, which the parties have previously agreed upon, is included as Annex 2 to the Central Agreement
- The central agreement’s title and other content now reflect that NHO is the supreme party to the agreement
- The scheme with transitional allowance has been continued until Folketrygden’s hardship scheme is in place
- Interim settlement clause and duration provision have been updated
Salary supplement and the regulations
The result is that the salary regulations’ rates/fixed salary are increased with a general supplement of 2.65 per cent, minimum NOK. 15,000 per year. The general supplement will be applied with effect from 1 May 2023. The result is within the front subject framework of 5.2 per cent.
The general supplement amounts to a 3.9 per cent wage increase on the minimum wage, which thereby increases to 399,251. This means a new lowest hourly wage of NOK 207.94.
The average wage increase amounts to 2.7 per cent, and NOK 19,190 per man-years. 6 new salary steps are added to the regulations. The new top salary in the salary regulations will then be NOK. 1,162,137 on step 96.
The amount also represents the new top rate in the salary range in a stepless system.
At the same time, we remind you of the following provision in the protocol:
“Employees who have resigned from their position in the company before the adoption date are not entitled to the supplement. There is no conversion and subsequent payment of overtime allowances, compensation allowances and other irregular allowances, etc. for work carried out in the period between 1 May and the date of adoption.”
Regarding recruitment and the general supplement, we refer to this article.
The framework for the settlement can be described as follows:
Overhang: 1.8%
General surcharge: 1.8%
Slippage and local additions: 1.6%
Annual salary range: 5.2%
Here you can read more about the new wage regulations and explanation for 2024.
Finans Norge requests that the companies contribute to complying with the frontline framework.
