Collective Bargaining Agreement Bank Luxembourg

Function classification: From 2020, functions will be divided into 4 groups, A – D. According to ABBL, each bank will classify its own functions. However, the same method is applied that recommends five objective and transparent criteria defined by the CBA: knowledge; Complexity The effects Human relations; Team management, coordination and expertise. All staff submitted to the CBA will be involved in this process and will have their function assigned to one of the 4 new groups after the points have been awarded based on their level. A reassessment and salary adjustment is provided if the employee`s salary is less than the minimum wage for the group in which his or her position was classified. On 12 July 2018, the Luxembourg Bankers Association (ABBL) signed the new collective agreement (CBA) for bank employees 2018-2020 with the Luxembourg Banking Federation and the financial sector trade union representative. This agreement defines the working conditions of employees in positions within their jurisdiction. The new KBA contains a number of important changes, but we will focus on job classification in this article, as this requires a considerable investment of time and effort and could be extremely problematic if done wrong. KPMG supports clients by offering tailored services and offering a fully adaptable package. A team of dedicated experts, with in-depth knowledge of the new CBA methodology, will support banks in this direction. The new bankers` collective agreement 2018-2020, signed by the Luxembourg Bankers Association (ABBL), will enter into full force after a gradual implementation at the end of this year. This new agreement includes several fundamental changes to the working conditions of Bank employees working in Luxembourg. All other provisions of the 2018-2020 agreements are maintained, including termination, the compensation system and principles, the 13th monthly bonus, overtime pay, annual leave and rest days, exceptional leave and continuous access to training.

The new collective agreement (CBA) for bank employees 2018-2020 aims to “regulate the working relationship between banks and their employees and to complement the relevant legal provisions in this regard.” In our library, you will find separate videos on different pricing topics: each bank must carry out an employment evaluation before the deadline of January 1, 2020 to position its functions in the 4 new groups.