Get to know your collective agreement - explained in 2 minutes

Do you know all your rights and opportunities through the company collective agreement here at Danske Bank?

Get a quick overview of the most popular sections of the collective agreement that forms the foundation of your working life at Danske Bank.

The agreement in Danske Bank: A quick overview

✅ Up to 2 weeks' time off in case of a sick child
At Danske Bank, you are in a good position if you our child gets sick.

In case of a sick child, you are entitled to up to two weeks' time off

Your position is thus better than the position in the rest of the financial sector, which you have up to five days only.

If you are a public employee, you have two days to care for your sick child.

The possibility of taking two weeks' off to take take care of your child also applies to employees on individual contract, unless otherwise stated in the contract.

✅Senior part-time with full pension contribution
At Danske Bank, you can – when you have reached the age of 60 – have your working hours reduced to 60% of a full-time position. This is better than most other parts of the financial sector.

Did you know that new and improved initiatives have been introduced in the part-time scheme for senior employees?

You can now pool your reduced working hours for whole weeks so that you can, for example, take a longer summer holiday

You can also choose to work an hour less each day or have a fixed weekly day off.

Employees on individual contract are typically not entitled to part-time work for senior employees, unless this is specifically agreed in the contract.

✅ Parental part-time
With part-time children, Danske Bank employees has more opportunities than you have in the rest of the financial sector.

Parents and foster parents of children under 12 years of age who have been employed for at least one year have the right to enter into a temporary agreement to reduce working hours. The maximum working hours can be reduced to 30 hours per week. 

The local management may, after dialogue with the union representatives, object to a part-time arrangement if the responsibilities and business scope (e.g. customer, management and/or operational considerations) are not compatible with a part-time arrangement. 

What is special about our agreement, unlike in the rest of the financial sector, is that it also applies to foster parents and that there is no one-year limit.

Employees on individual contract are typically not entitled to parental part-time work, unless this is specifically agreed in the contract.

✅ Higher holiday supplement 
In addition to the annual annual salary increase, we negotiate with the bank, you will also have more money to spend in your days off as employed under the collective agreement.

You get a holiday supplement that is higher than for many others on the labour market

Your holiday supplement is 3.75% of your salary and is paid out twice a year.

In the rest of the financial sector, the rate is 3.25 %, whereas for many public sector employees it is between 2 % and 2.5 %.

If you are employed on an individual contract, you will typically receive the 1% holiday supplement provided through the Danish Civil Service Act. 

✅ Right to leave
Generally, you are entitled to leave without pay or pension for up to six months.

Leave is usually subject to three months' notice and you must have been employed by Danske Bank for five years.

Following discussions with Finansforbundet in Danske Bank, Danske Bank may oppose leave if special work-related, practical or similar considerations speak against.

Other leave options have also been agreed in the collective agreement: 
- leave to care for a close relative 

- leave for a seriously ill child 

- leave for a disabled child 

These three forms of leave are typically also covered by employees on individual contract - unless otherwise stated in the contract.

✅ Call-in and on-call duty
Danske Bank offers particularly good terms for call-out and on-call duty.

When employees are available and on call for the bank outside normal working hours, or if they are contacted outside working hours, a special remuneration has been agreed.

This applies to both employees on job based salary and employees on salary levels. However, it does not apply to employees on individual contracts, unless it is agreed separately in the contract. 

The rules for remuneration of on-call and on-call positions are simpler and easier to use in Danske Bank than in the rest of the financial sector.

✅Paid insurances
Finansforbundet has ensured that all employees are entitled to tooth, health and group life insurance paid by the employer.

In Danske Bank, the dental insurance is extra good.

The insurance paid also applies to employees on individual contract.

(In addition, Finansforbundet the only union in Denmark that has negotiated a paid dental insurance to all employees).

✅ Flexible Choice Bank
Many private and public sector employees have access to various types of free choice schemes.

However, these plans are generally not as lucrative as the Flexible Choice Bank in Danske Bank.

As an employee in Danske Bank you can deposit additional work, the sixth holiday week, care days for up to 320 hours in the Flexible Choice Bank and decide whether you want to pay out the hours worked or time off. 

And if you choose to have them paid out, you can then choose to pay them into a pension scheme. So we actually have a free-choice scheme, where in a simple way there is a real free choice between freedom, money and pension savings. 

However, for employees on job based salary, overtime cannot be paid out, but must be taken off. 

Employees on individual contract must also take off any overtime, and the value of the care days is included in the salary, so you can buy them yourself. Employees on individual contract also have the 6th holiday week — it appears as five days off.

✅ Job based pay and independent work planning
Job based salary means that payment for additional work and allowances for work at irregular hours is included in the employee's monthly salary and that the employee is entitled to planning his/her independent work.

It is worth emphasising that the pay limit for job-based salary in Danske Bank and the rest of the financial sector is among the highest in the Danish labour market, and Finansforbundet is the only union ensuring job-based pay rights for independent work planning in order to be employed on job-based salary.

It is important to highlight that the collective agreement at Danske Bank stipulates that the standard working hours for an employee on job based salary are 37 hours per week.

It is agreed that the leader and employee must jointly ensure that working hours are balanced, so that a period with a few extra working hours is followed by a period with fewer.    

✅ Extended flexibility for special life situations
Everyone can experience periods when life is difficult for working life.

In these situations, it is important that our framework in Danske Bank provides best support to the employee.

Examples of flexibility are:
• Changed working hours for a period of time
• Use of existing leave options
• Use of the Flexible Choice Bank
• Offers in the health insurance
• More  work from home
• Other individual solutions

It is characteristic of the cooperation between Finansforbundet i Danske Bank and the bank that we as a union have a close dialogue with Danske Bank and often find good individual solutions.

If you are employed on an individual contract, you are always welcome to contact us so that together we can find out what options you have and which best support you in the given situation.