There have been press reports that PCS’ pensions schemes are in serious problems; see here: http://www.independent.co.uk/news/uk/home-news/exclusive-the-public–commercial-services-union-protect-our-pensions-union-faces-its-own-pensions-crisis-9180044.html
This article claims that:
‘Documents seen by The Independent reveal the Public & Commercial Services Union faces a pensions crisis, with the combined deficit on two of its schemes estimated to be as high as £65.5 million.
The figure is more than double the organisation’s £27.6 million annual income…’
We don’t know whether the above is true. Outwardly the union leadership, most notably in the form of Chris Baugh, our newly reelected Assistant General Secretary, claim we are in a financially robust situation.
We do know that in the public sector that we could put in freedom of information requests to find out what is happening. In our union the members have no such right to information. The leadership does not have to beyond the bare legal minimum tell members anything about the real financial shape of our union.
The left has had a long standing demand that companies should open their books so that claims made about their financial health can be examined by staff and unions. We put the same demand on our union; the union that we pay for. Let’s see what the real financial shape of PCS is; open the books!