Youth To Youth: Investing Workers' Retirement Funds For Progressive and Socially Responsible Purposes
Youth To Youth: Investing Workers' Retirement Funds For Progressive and Socially Responsible Purposes
Youth To Youth: Investing Workers' Retirement Funds For Progressive and Socially Responsible Purposes
January 2014
Youth to Youth
Youth to Youth is the Asia Pacific news bulletin for young members in the region. It is published every two months by the Public Services International Asia Pacific Regional Organisation (PSI-APRO). Should you wish to contribute to this bulletin or news subscription, please contact: [email protected]
Investing workers' retirement funds for progressive and socially responsible purposes
The conventional wisdom is that young people today suffer insecurity knowing that they will change jobs repeatedly over their careers and, because of that, they don't really think much about pensions. However, it turns out that the conventional wisdom is wrong. A current survey mentions that people tend to stay with their current employer if they provide a better pension plan. It is understood that retirement benefits and social security schemes are an integral part of the quality of employment.
The economic crisis has without a doubt led to reduced job security and declining working conditions that often disproportionately affect young workers. Many young workers risk becoming the new working poor. So, what can unions do for you? Unions are protecting young workers. The union defends the interests of all members, including those who have only recently entered the workforce. In the public sector, budget cuts have brought a broad range of significant employment challenges and young workers have been hit the hardest. The effects are damning including the impact of pension changes. Pension changes will impact peoples short-term ability to make ends meet as well as their future working lives. This concern is understood and shared by others in the union, of all ages and at all levels. Therefore, the union needs to mobilize workers and strengthen their political muscle in order to be part of the policy-making process of our future. This will help to protect workers interests and benefits and lessen the burden on the next generation of workers. Public Services International (PSI) Asia Pacific region and the Friedrich Ebert Stiftung (FES) Regional Cooperation office jointly held a Forum on Pension and Social Security for the affiliate unions on 14-15 December 2013 in Singapore. This forum was timely and important for workers and public sectors unions to be part of the development and be involved in the pension fund governance that they can play a major role in ensuring that workers' retirement funds are invested for progressive and socially responsible purposes. Through this forum, the participants discussed: (1) the diversities of public pension funds and a deeper understanding about pension and social security at the global context; (2) how to provide regional perspectives and what mechanisms or interventions can be employed and useful for workers actions; and (3) how to come up with recommendations and action points on how PSI at the global level can articulate the local concerns and how the unions at national level can play a bigger role with regards to pension funds and social security. Read more here.
Asia Pacific Regional Organisation 295 Upper Paya Lebar Road, Singapore 534929 Tel: +65 62823219 Fax: +65 62804918 Regional Secretary: Ms. V. Lakshmi E-mail: [email protected]
The ILO-ACTRAV, South Asia, organised a four day workshop on Strengthening the CLS Ratification Campaign & Giving Importance to Youth Involvement from 25-28 November 2013, in Agra, India. A similar workshop was organised in Trivandrum from 29 July to 1 August 2013 for the youth members in Southern States in India. The workshop, which was attended by trade union members from 11 central trade union organisations in India, sought to fulfil the following objectives: 1) Strengthen the trade union platform for ratification of Core Labour Standards; 2) Strengthen the role of youth in the ratification campaign and 3) harnessing the potentials of IT tools to strengthen the overall ratification campaign. Like on previous occasions, Manoranjan Pegu, PSI-South Asia Project Coordinator, was invited as the resource person to facilitate the sessions on Social Media for Trade unions in Agra. Manoranjan Pegu talked in detail about the importance of social media for trade unions with the participants. He also gave examples of internet campaigns being done by LabourStart, Public Services International and the ITUC to practically demonstrate the importance and use of social media to the participants. For more information, contact: [email protected]
International trade union mission condemns continuing labour rights violations in South Korea
PSI participated in an international trade union mission in South Korea on 17-20 January to investigate continued fundamental labour rights violations against trade unions including PSI affiliates. The mission comes in the midst of increasing repression against Korean trade unions in response to a 23-day long rail strike. Participants in the mission included PSIs David Boys and other representatives from ITUC and ITF. Read more here.
development.
The loss of the best and brightest may have diminished the growth prospects of the two countries, but at the same time there are some obvious advantages to emigration, such as the remittances migrants send back to their countries. Read the article in The Age here.
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