Rights on the Swedish labour market

Finansförbundet negotiates with the employer organisations in order to agree best possible terms for the members of Finansförbundet.

A collective agreement is a voluntary agreement between employers and employees on your rights at the workplace. These terms may include additional vacations days, completion of salary during parental or sick leave and also overtime compensation.  The terms of the collective agreement are always a secure ground level and not intended as a limit for even better terms in your individual contract. 


Terms and rights on the Swedish labour market are based on three parts

The law is the groundwork and applies equally to everyone. The collective agreement is a complement to the law and gives you better terms and conditions than you would have had otherwise. The collective agreement is intended to secure the ground level. You are always entitled to negoitate even better terms in your individual contract, but it could never be less or worse than the collective agreement stipulates.

Work environment

Your working environment cover all conditions in the workplace:  physical, organizational as well as social conditions. 

In the Swedish Work Environment Act it stipulates that the employer is ultimately responsible for your work environment. The employer should take any actions necessary to prevent employees from being exposed to ill health or accidents. Even though the employers is fully responsible, it is also the responsibility of every employee to draw attention to potential problems, risks or improvements. What your employer does not know, he or she cannot do anything about and consequently, it is important that you speak to your employer if you feel that there is a problem with your work environment.  Your workplace should be adapted to you - not the other way around.

Under the Swedish Work Environment Act, all workplaces employing five or more people should have a work environment representative. The work environment representative is an elected representative whose duty it is to monitor the work environment efforts of the employer. The main purpose of this is to ensure the wellbeing of you and your colleagues - both at work and outside of work.

Working hours 

Your contract of employment should give details of your working hours. Your working hours are generally regulated by the Working Hours Act but can also be affected by a collective agreement if this exists at your place of work. 

 The Working Hours Act includes, for example, rules on how many hours of daily rest you should have and how much overtime you are allowed to work. According to the Working Hours Act, a regular working week should not exceed 40 hours. In case there is a collective agreement this should specify how overtime are being compensated.  

Within the collective agreement between Finansförbundet and BAO (Banking Employers Organisation) a regular working week should not exceed 37,5 hours. This collective agreement applies to nearly 90 percent of all members of Finansförbundet.  

What rules that apply to you depends on: 

  • If you are employed where there is a collective agreement and in that case which one 
  • If there are no collective agreement at your workplace  
  • If there are any specific details regulated in your contract of employment 

Gender equality and diversity  

Gender equality and diversity are the concepts that Finansförbundet use when working with the seven grounds of discrimination (sex, transgender identity or expression, ethnicity, religion or other belief, disability, sexual orientation and age) covered by the law that prohibit discrimination, the Discrimination Act.   

According to the Discrimination Act, no one should be exposed to harassment or discrimination in working life. Employees on parental leave are also protected against discrimination through the Parental Leave Act. 

A simplified description of discrimination is when a person experience disfavorable treatment or, when a person experience that his or her dignity is being violated.  

It is your employer’s responsibility to secure that no employee is being discriminated or disfavorable treated at the workplace.  

Parental leave  

In addition to your legal rights concerning parental leave, it is possible that your company have further benefits for employees on parental leave. Ask your local trade union representative of the specific conditions at your work place!  

Employees on parental leave: 

  • You have the right to influence the way you organise your entitled parental leave.  Discuss arrangement for your parental leave with your employer.  
  • If you are included in our collective agreement with BAO or Svensk Handel you receive additional remuneration, beyond the remuneration from Försäkringskassan (Swedish Social Insurance Agency).  
  • Your employer is obliged to inform you of what happens at your work place while you are on parental leave.  


The Swedish pension system consists of three different pillars; one pillar from the state, one pillar from your employer and another pillar from your own savings.  

1) National Public Pension: Payed by the state and is an income related pension. 

2) Occupational Pension: The pension you receive when working at an employer that have a collective agreement. 

3) Own savings: If you like to complement your national public pension or occupational pension by personal savings, there exists various favourable ways, such as Investeringssparkonto (ISK).  


All employees are entitled to a minimum of 25 full days of vacation annually according to the Swedish Annual Leave Act. You can also be entitled to more vacation days according to your contract of employment or collective agreement.  

The employer is obliged to make sure that you take your vacation annually. As a general rule, the vacation is your chance to rest and thus, you have the right to cancel your vacation during certain circumstances, for example due to illness.  

You are entitled to a continuous vacation of four weeks during the period of June – August. You and your employer need to find an agreement of when you may take your vacation during this period. If you and your employer cannot find a compromise, it is the employer that has the final decision.  


If you are sick, you are entitled to statutory sick pay and sickness benefit. If you are covered by a collective agreement you are also entitled to sick pay in accordance to your collective agreement.  

When you become sick you need to inform your employer as soon as possible. From the eight day of your sickness, you need a medical certificate of your sickness.  

If your sick leave lasts for more than 14 days, your employer will report this to Föräkringskassan. In order to receive sickness benefit from the 15th day of sickness, you need to apply to Försäkringskassan and enclose a medical certificate from your doctor of why you are sick.