INTRODUCTION
Mind Your Pension – A Guide for TEEU Workplace Representatives is a timely publication and necessary resource for our union.

Pension schemes are constantly under review, mainly by employers, who quite often want to reduce their costs by transferring the risks to our members. We believe that all members are entitled to an adequate pension provision on retirement and the TEEU are committed to achieving this goal on behalf of all
our members. The purpose of this booklet is to help TEEU Representatives to improve their knowledge of pension matters generally.

Pensions are an important element of pay – they represent earnings that are put aside during an employee’s working lifetime, to be paid to him or her after retirement, or to make provision for dependants if the employee does no survive to pension age. They also may be the single most valuable asset that an employee has. Therefore, looking after pension rights has to be a high priority.

For TEEU Representatives, it is important to understand how pensions work. That understanding will help you to monitor the quality of the provision that is made for your members and assist you in the negotiation of better conditions.

In the current economic climate, pension schemes – particularly defined benefit pension schemes – are increasingly under threat. You may find employers, for various reasons, are no longer willing to bear all of the risks that such schemes involve. But the solution is not to transfer all of those risks to the pension scheme members, which is generally what happens if the defined benefit scheme is replaced by a defined contribution scheme.

Ideally, a solution should be found that is fair to both employers and the workers concerned. There is no “one shoe fits all” solution to these issues when they arise. It will require reasonable consideration and discussion between the company and the TEEU to find appropriate resolution for the consideration of the workforce.

This booklet is designed to assist TEEU Representatives in approaching the discussion of those issues with confidence and understanding.

CONTENTS LIST. (Go to Members Area to Download a full copy >> )

Introduction:
	Different Kinds of Pension
	How do Occupational Pensions Schemes Work?
	Two Kinds of Pension Scheme Advantages and Disadvantages of Each
	Risk and Risk Sharing
	The Other Kinds of Pension Scheme
	Pitfalls and Poor Design
	Additional Voluntary Contributions (AVCs)
	Investment Matters!
	Useful Contacts
	Go to Members Area to Download a full copy >>