Dutch bancassurer ING NV (INGA.AE) said Monday that it has reached an agreement with unions on worker pay in the coming years.

MAIN FACTS:

-Under the agreement, workers will see their bonuses cut by 2% in 2010 and 2011, while they will receive a structural pay raise of 1% as of September 2011.

-Union members still have to approve the agreement.

- By Amsterdam Bureau, Dow Jones Newswires; amsterdam@dowjones.com