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New company collective agreement passed

92.2% voted yes to the new company collective agreement that Finansforbundet in Nordea has negotiated with Nordea

26. Jun 2023
3 min
English / Dansk

"First of all, I would like to thank all our members who have taken a stand on the company collective agreement and thus helped to decide the terms for the coming collective agreement period," says Dorrit Brandt, president of Finansforbundet in Nordea.

Although the voting period has been very close to the summer holidays and a little shorter than usual, 60.6% voted compared to 61.2% in the last poll in 2020.

Very happy for the support

In a negotiation you cannot get everything you point to, so in the negotiations Finansforbundet in Nordea has listened to the mandate given by the members, with a widespread desire for ‘as much as possible for everyone'.

"I am happy that the result with 92.2% yes votes is so clear. We ourselves think that, based on what was possible, we have negotiated a good agreement with the bank, but it is the members who, with their vote, decide whether the result is within the scope. That is why I am very happy for the support. Many thanks to everyone who voted," says Dorrit Brandt.

"I am happy that the result with 92.2% yes votes is so clear," says Finansforbundet in Nordeas president, Dorrit Brandt.

She also sends a big thank you to the 125 union and senior union representatives in Nordea.

"It has been a special process this year, where it took time from when the negotiations were completed until we could announce the result. Thank you for good conversations, both during the 'waiting time', when we were all impatient to be able to move on, and afterwards with informing and engaging in dialogues about the result."

4.5% for general salary increases in 2023

The new company collective agreement means that the full 4.5% that has been committed has been earmarked for general salary increases in 2023 for all employees in Nordea in Denmark who are covered by the collective agreement. The salary increase will take place per 1 July, but for practical reasons the salary will be regulated retroactively from 1 September 2023.

In 2024 the general salary increase will be 3.20% and 0.5% will be included in the pool for distribution via Nordea Salary. Concurrent, it is agreed that all employees – including those who are not covered by the collective agreement – will receive additional 0.33% pension contribution as from 1 July 2024.

The company collective agreement (VOK) in Nordea builds on the standard collective agreement (STOK), concluded between Finansforbundet (The Financial Services Union Denmark) and the Danish Employers' Association for the Financial Sector (FA) earlier this spring. 

In the standard agreement, 8.20% has been agreed for general and individual salary increases. The amount has been increased in Nordea's company collective agreement, so that the total collective agreement result for employees in Nordea for 2023-25 is 8.53%.

The new company collective agreement is valid for the period from 1 April 2023 until 31 March 2025.

Facts about the votes

You can read more about the content of the new company collective agreement at

The members’ ballot ended 26 June at noon. At that time, 60.61 % of the members eligible had casted their vote. 92.2% voted yes, 7.6% voted no. The remaining votes were blank. 

For comparison, 61.2% of the members eligible casted their vote on latest the company agreement in 2020. 94.3% voted yes back then. At the company collective agreement in 2017, 56.8% voted and of those 93.4% voted yes.

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