Capital Stewardship Programme
- Do you think pensions are boring? Stop and think again!
- Do you glaze over whenever they are mentioned, big mistake!
- Ask yourself - where does my pension contribution go and what does it do in my name?
- Watch Its our money, your savings, your future.
You can take control of your pension fund
For the first time in our history, private occupational pension scheme members have a right to become pension fund trustees. This means UNISON members like you have a clear opportunity to take control of their savings and protect the future of millions of public sector workers' pensions.
And UNISON is leading the campaign to gain the same rights for LGPS members.
Why your pension fund is so important
Having an income that keeps you above the poverty line after you finish working is essential to maintaining a decent standard of living. That's why trade unions fought for and won decent pensions for their members.
You may save up to one third of your wages a month in a pension scheme. How that money is looked after and invested is critical for your future retirement and for the future of your children and grandchildren.
It's your money
UNISON's capital stewardship programme 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.
We are 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. NHS members will have investments if making additional voluntary contributions, these are invested by an insurance company.
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 employerÕs 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.What is being done?
The recent crisis in the banking and finance sector shows the importance of getting involved in where your money is invested and working to protect its future value. Acting alone makes it difficult to affect change, but by pulling together to improve oversight of your savings, UNISON members can safeguard the future for millions of workers reliant on occupational schemes for their retirement.With such vast sums at stake it is critical we are instrumental in how these schemes are run.
UNISON Capital Stewardship Programme - what is it doing?
We are undertaking a major research project - Who Owns UK Public Services Plc? This project will find out who owns all of the companies providing public services.Developing responsible contractor policies for our member's pension funds
Providing seminars and conferences on investment issues
Campaigning to improve member representation on the LGPS and modernise the governance of the funds.
What you can do
- Get informed- discuss your pension scheme and its fund and any perceived or real threats at your local union meetings. Ask your branch or regional officer to provide speakers and information about this issue. Start getting the word out to your colleagues.
- Get trained by UNISON - sign up for one of the courses the national union provides. (link to courses Lisa to check)
- Become a branch pension contact - know who your pension fund trustee or LGPS rep is get active amongst the members - be the link between your pension scheme rep or trustee and the union members.
- Take up the challenge become a capital steward - Take an active role in making sure that UNISON has members are on pension funds and become a LGPS rep or a trustee on your scheme. It is a lot of work but it is about protecting the future for you and your brothers and sisters.
- LGPS rep or trustee already? UNISON Capital Stewards should register for UNISON's web community. There you will find an on line library, discussion boards, news service and much much more (link to www.capitalstewards.org)
It's not just your pension that can benefit from better governance of capital assets; the world at large has a lot to gain from improved corporate behaviour. By taking action and exercising your shareholder muscle, polluting firms, reckless financial institutions, overpaid executives and exploitative businesses could become a thing of the past.
Latest updates
UNISON goes to BP AGM
(15/04/10) UNISON will be at BP's AGM today - taking part in our first company AGM as a share owner. We'll be there to make clear our environmental concerns over oil extraction.You can view the AGM live on the company's webcast starting at 11.30am here - http://www.bp.com/sectiongenericarticle.do?categoryId=9032414&contentId=7059464
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