Employees of banks operating in the Luxembourg financial market are protected by a collective employment agreement (Convention Collective de Travail – CCT). This collective agreement is entered into by the unions, led by ALEBA as the largest financial sector trade union, and employers, i.e. members of the Luxembourg Bankers’ Association (Association Luxembourgeoise des Banques et Banquiers – ABBL), www.abbl.lu), generally for a three-year period. The collective agreement for bank employees guarantees good working conditions, often going beyond what is required by the Luxembourg Labour Code. The current collective agreement was negotiated and signed in 2014 and is valid for 2014, 2015 and 2016.

A Joint Committee, composed of equal numbers of union and employer representatives that are signatories to the collective agreement, also has the role of monitoring banking sector issues and matters relating to the application of the collective agreement. In addition, it must define the objectives and procedures of the collective agreements that are to be concluded in the future.

You can obtain a paper copy of the current collective agreement (in German, French or English) on request.