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Germany: social partners in chemicals sector introduce first supplementary dependency insurance scheme as well as an ‘account for the future’
Planet Labor, 25 November 2019, n°11505 -

On Friday 22 November, the German trade union for mining, chemicals and energy – IG Bergbau, Chemie, Energie – and the country’s federation of chemicals sector employers – BAVC – signed a branch collective agreement that is innovative in nature. Signed in Wiesbaden, the agreement applies to the 580,000 workers in the sector. Employees will benefit from a measure that does not exist in any other branch: a supplementary dependency insurance scheme, which will be entirely funded by employers. Furthermore, they will have access to a so-called ‘account for the future’, into which employers will pay 23% of the worker’s monthly salary from 2022. The money can be used to obtain more free time, added to their company pension or claimed in cash. On the other hand, IG BCE agreed to a moderate increase in pay as well as an exceptionally long duration for the agreement (29 months).

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