The labour department must be able to audit all company's pension fund and vet all changes whether approve by the employees or not. I would also recommend that the pension fund is managed by a financial advisor(s) and not the owners of the company and that the owners can not invest any portion of the fund into the company without the employees, the financial advisors and the labor dept approval .
In addition, the government must ensure that the labour dept has the powers to ceased control of pension funds of companies that have closed when there is a dispute with the workers.
The pension fund belongs to the employees, therefore no dispute should exist. Each employee should get their portion base on tenure, contribution, withdrawals, etc. and decide to invest it at their discretion.
I have been listening to news concerning BEC for a few months and am very disturb of the comments being made about the corporation. 1. The government had BEC reduce its rates to the public - no business can stay profitble when expenses increase and the cost is not shared with the public. 2. I agree that the overtime at BEC is extremely high - This has been the case for decades 3. As a quasi corporation its by time a government had the strength to reduce expenses, however in my opinion the Board of the Directors are trying to resolve BEC issues with an autocratic style of management. This style is outdated and not use by any corporation including the Military.
The Board along with the Senior Management team should have agreed on an action plan, set timelines for the completion of each stage of the action plan. Employees and the Unions should be advice of the various steps. Of course employees and the union would not know the intricate details. Not all employees including management and line staff may accept the change positively, and in cases would decide to resist or leave the corporation.
Decision must be made for any entity to survive but we as a leader we do not ridcule the employees in order to get the public support.
The basic rule of life - love your neighbor as yourself
ethicsleadership says...
The labour department must be able to audit all company's pension fund and vet all changes whether approve by the employees or not. I would also recommend that the pension fund is managed by a financial advisor(s) and not the owners of the company and that the owners can not invest any portion of the fund into the company without the employees, the financial advisors and the labor dept approval .
In addition, the government must ensure that the labour dept has the powers to ceased control of pension funds of companies that have closed when there is a dispute with the workers.
The pension fund belongs to the employees, therefore no dispute should exist. Each employee should get their portion base on tenure, contribution, withdrawals, etc. and decide to invest it at their discretion.
On 'Outrage' over City Meat pension transfer
Posted 12 April 2013, 5:41 a.m. Suggest removal
ethicsleadership says...
I have been listening to news concerning BEC for a few months and am very disturb of the comments being made about the corporation.
1. The government had BEC reduce its rates to the public - no business can stay profitble when expenses increase and the cost is not shared with the public.
2. I agree that the overtime at BEC is extremely high - This has been the case for decades
3. As a quasi corporation its by time a government had the strength to reduce expenses, however in my opinion the Board of the Directors are trying to resolve BEC issues with an autocratic style of management. This style is outdated and not use by any corporation including the Military.
The Board along with the Senior Management team should have agreed on an action plan, set timelines for the completion of each stage of the action plan. Employees and the Unions should be advice of the various steps. Of course employees and the union would not know the intricate details. Not all employees including management and line staff may accept the change positively, and in cases would decide to resist or leave the corporation.
Decision must be made for any entity to survive but we as a leader we do not ridcule the employees in order to get the public support.
The basic rule of life - love your neighbor as yourself
On UPDATE: Police called to BEC headquarters
Posted 3 April 2013, 10:12 p.m. Suggest removal