The executive of MSF, the Republic's fourth-largest union, has recommended that its members vote for the Partnership for Prosperity and Fairness.
The union, which represents many professional, technical and supervisory staff in the private sector, says that besides the national pay increases, the PPF provides scope for "pursuing additional rewards through various forms of gain-sharing".
The Irish national secretary of MSF, Mr Jerry Shanahan, warned, however, that if inflation rates rose the union would trigger the review mechanisms provided for in the PPF. A major selling point of the PPF for this middle-income group is the Government commitment to bring 80 per cent of taxpayers on to the standard rate.
He also welcomed the commitments in the agreement to create more family-friendly workplaces, equality and protection for workers threatened by the invasion of privacy and racism.
MSF is a major union in the financial services sector, and Mr Shanahan said the new national agreement provided the best framework for workers in firms facing mergers, strategic alliances or acquisitions.