Pensions and Superannuation - Actions

Superannuation - Australian Electricity Industry Unions – collective bargaining outcomes have increased superannuation (pension) outcomes, with the first state wide and industry win, state of New South Wales (NSW), with PSI Australian affiliates in that state achieving 15% (per annum) superannuation contribution in the NSW electricity distribution and transmission industry. This is the first national industry, with employees in the three NSW State Owned Distribution/Network Companies and the State Transmission Authority now set to enjoy 15% 'employer ' superannuation contribution in lieu of the standard 9% National (compulsory Government mandated) contribution by employers. Members under the old defined benefit schemes have not missed out, will receive an additional 6% payment (difference between 9% and 15%) from their employer. Thus all employees in NSW Transmission and Distribution industry are on their way to receiving an additional 6% superannuation contribution as a result of the last round of bargaining. The outcome is a result of an industry campaign that commenced in 2007 see http://www.asu.asn.au/media/general/20070413_super.html media and booklet http://www.asu.asn.au/media/we-need-more-super-160307.pdf for more information gmclean@syd.asu.asn.au

Public Sector Unions - Push for more rights for employees and their superannuation - are superfund’s being used against employee’s best interest? Member’s superannuation or pension funds are invested in a range of investment portfolios, but do we as members know where? Are any of the funds invested in shares or other investments that support privatization of our members jobs, or support companies directly or indirectly that want to undertake the services our members provide in local govt , water, electricity and public transport .. … Are we asking these questions of our pension/ superannuation fund directors? Scandinavian Unions, as well as UNISON (in the UK) and AFSME (in the USA) are starting to look at this issue.

UNISON's capital stewardship programme (extract unions Web page) aims to ensure that our members' interests are actively pursued through representation on fund boards and investment panels and by engagement with the companies which our members "own" or lend money to. Unisons is campaigning to promote member representation on ALL occupational pension schemes to which our members contribute. UNISON members' pension schemes have an estimated value of £200bn in assets. They cover local government, the environment agency, energy, water and transport companies; the charitable sector; higher education colleges and the private contractors.
Did you know? - The money you save into your occupational pension scheme is invested in companies across the world? In fact, your savings and those of other workers now own a majority share in nearly every big company. But as the current problems in the economy show, your savings are at risk if these companies are mismanaged and boards of directors fail to ensure long-term shareholder value. As a member of your employer’s pension scheme you, and millions of other workers who have savings around the world, have a right to have a say in how these companies are governed. This means you can help make a difference to the way they are run. For more information see http://www.unison.org.uk/capitalstewards/

AFSCME Releases Best Practices Guide for Pension Systems - PSI affiliate the American Federation of State, County and Municipal Employees has released a first of its kind report on pension plan governance. Enhancing Public Retiree Pension Plan Security: Best Practice Polices for Trustees and Pension Systems serves as a road map for improving pension plan governance. Booklet at http://www.afscme.org/docs/AFSCME-report-pension-best-practices.pdf Full PSI news item at http://www.world-psi.org/TemplateEn.cfm?Section=Help&CONTENTID=24263&TEMPLATE=/ContentManagement/ContentDisplay.cfm&UTM_MEDIUM=email&UTM_SOURCE=feedburner

PSIRU – Public Services International Research Centre - Produced a publication for pension superannuation fund directors. The public services international research unit (PSIRU) in co operation with Unison UK has produced a publication , Infrastructure, the crisis, and pension funds produced for the This report was commissioned by the Unison capital stewardship programme for the UNISON/PSI seminar on public sector pension funds, London, December 2009 located at http://www.psiru.org/reports/2009-12-infra.doc

PSI Pension Forum Page – Public Services International - located at www.world-psi.org/pensionsforum provides a range of publications around pension funds issues including a push by a number of union officials , including the ASU, covering range of issues including - union appointed directors on pension funds to understand ILO charters and related union investment issues - to make sure union pension funds are not used against the workers that contribute to pension or superannuation funds - pension and superannuation fund directors need to rely on their rank and file experiences to make sure union rights, ILO charters and related workers issues are not lost or that the employers and the establishment use their own union fund members against them .

Unions, community groups want safeguards for health, environment and labour rights in US-Trans Pacific trade pact - By AFTINET - Australian Fair Trade & Investment Network Ltd -Thirty Australian unions (including PSI affiliates) and community groups have asked the Trade Minister to safeguard the Pharmaceutical Benefits Scheme, Australian local content in media, regulation of GE food, regulation of foreign investment and industry policies that support local employment in the Trans Pacific Partnership Agreement (TPPA) negotiations which start today, Monday March 15. The TPPA involves the US, Australia, Chile, Peru, Brunei, Singapore, New Zealand and Vietnam in negotiations for a new trade agreement based on the bilateral agreements the US has with five of these countries. - http://www.asu.asn.au/media/general/20100315_aftinet.html

pdf version of above at http://www.asu.asn.au/data_man/international/psi-aprec-bulletin-pensions-super.pdf