The TUC is right to welcome the Pensions Regulator's campaign on good pension fund governance, but the regulator must go further and install a requirement for 50% of trustees to be elected from scheme members by scheme members. It is still shocking to consider that the Local Government Pension Scheme member has no legal right to take part in it's governance.
Despite consulting widely last September the Department for Communities and Local Government has abandoned its plans to change this. Everyone must understand that all UNISON member's pension funds, except the NHS, invest your money. Don't be surprised when you find out you own shares in Capita! What this money does in your name must be open and transparent, so ask the following of your pension fund.
Does my pension fund have a responsible investment policy? If not why not?
Is my pension fund signed up to the United Nations Principles for Responsible Investment? If Not why not?
Who is my trustee or LGPS rep - you need to find out!
http://www.tuc.org.uk/pensions/tuc-17280-f0.cfm?
