Alpha Bank’s new company-wide collective labour agreement comes into effect today, following its official announcement on February 2. The agreement will remain in force until December 31, 2028.
From today, all new employees hired on permanent contracts will be entitled to a minimum monthly salary of €1,600, with salary adjustments to be made where necessary.
The agreement also introduces a mortgage protection mechanism for staff. Under the scheme, the bank will cover the interest-rate difference whenever the three-month Euribor exceeds 2.25% on staff housing loans with outstanding balances of up to €300,000, helping protect household budgets from rising borrowing costs.
New savings scheme for employees’ children
The agreement launches the Alpha Junior Savings Account, a long-term savings programme for employees’ children.
Under the scheme, the bank will make monthly contributions for each child from the age of six until 18, creating a personalised savings account invested through the “Alpha Dimiourgo” programme, with employees able to select the investment profile.
Employees with three or more children will receive higher contributions.
Expanded family and social benefits
The agreement also includes an enhanced package of family and social support measures:
- Childbirth and adoption allowance increased to €3,000.
- Nursery allowance raised to €340 per month.
- Allowance of €170 per month for in-home childcare.
- Annual support payment of €3,000 for employees with children with disabilities of 67% or more.
- Annual allowance of €1,500 for employees with disabilities of 67% or more.
- Annual allowance of €1,500 for widowed employees with children.
- One-off grant of €2,000 for children admitted to universities located more than 100 kilometres from their permanent residence.
- Annual free health check-up for all employees.
The new agreement will remain in effect through the end of 2028.
