A material for electrical contacts comprising a martensitic cobalt-nickel-iron alloy with a high strength, a high bendability and a high electrical conductivity, with a cobalt content of 12.0.ltoreq.Co.ltoreq.60.0% by weight, a nickel content of 10.0.ltoreq.Ni.ltoreq.36.0% by weight, remainder iron and an impurity content of less than 0.2 atomic percent, with a martensite temperature Ms of 75.degree. C..ltoreq.Ms.ltoreq.400.degree. C. in the case of the martensitic variant and -50.degree. C..ltoreq.Ms.ltoreq.25.degree. C. in the case of the variant which is naturally hard as a result of cold-forming.