With its emphasis on curtailment, the new Collective Labour Agreement reflects the focus of
Rabo Real Estate Group on cost-savings in the Dutch business. The new Collective Labour
Agreement took effect on 1 October 2013 and expires on 31 December 2015, and the negotiation
parties have agreed not to implement any collective wage increases during this period.
The parties also reached agreement on a more stringent method for the allocation of variable
remuneration, which is paid only if Rabo Real Estate Group generates profit from its assets.
The parties also agreed to pay no variable remuneration for the performance year 2013.
Since the employees of Rabo Real Estate Group are insured under Rabobank's Pension Scheme,
the pension changes will apply to all Rabo Real Estate Group employees. Collective Labour
Agreement negotiation parties agreed on an additional measure regarding the amount of the
employee share of the pension premiums.
The Sociaal Plan will remain in place at Rabo Real Estate Group, but, if necessitated at an earlier
stage by legislation or far-reaching organisational changes, the parties will negotiate on the
Sociaal Plan, and this may result in Collective Labour Agreement provisions being agreed at an
earlier date.
Annual Report 2013 Rabobank Group
