Home » Industrial relations » National industrial relations » Germany: social partners in chemicals sector introduce first supplementary dependency insurance scheme as well as an ‘account for the future’ Germany: social partners in chemicals sector introduce first supplementary dependency insurance scheme as well as an ‘account for the future’ 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). Through . Published on 25 November 2019 à 15h12 - Update on 25 November 2019 à 15h12 Resources German consensus. With the signing of the ‘branch collective agreement on tomorrow’s world of work’, trade union IG BCE and the employer federation BAVC have confirmed once again their reputation for being innovative social partners, who are keen to devise solutions that are geared towards the future and which take into account the interests of employers and employees alike. The agreement appears to be a model of its kind, in terms of German consensus.… Need more info ? Contact mind's on-demand study service Which service do you want to contact :WritingCommercial serviceTechnical SupportFirst name Last name Organization Function email* Object of the message Your messageEmailThis field is for validation purposes and should be left unchanged. Essentials Les dernières publications Supporting parenthood in the workplace: a win-win strategy Supporting employee carers: a CSR challenge Analyzes Les dernières publications Paternity leave: data observations from 41 countries EU: during H1 2022 five EU Member States have raised their minimum salary levels