News

UNI affiliate HK Commerce holds a seat on the PFA Pension board and made the announcement today.



HK Commerce said PFA Pension had made the right decision. “We can under no circumstances have our member’s pension savings invested in a company responsible for poor work conditions, said Per Tønnesen, president of HK Commerce.



Head of UNI Commerce, Alke Boessiger said, “We congratulate both HK Commerce and PFA Pension. Walmart’s track record of rock bottom salaries and poor working conditions coupled with allegations of bribery makes it an unacceptable choice. We hope that more pension funds and investors will remove their backing for Walmart until it gets its house in order.”



PFA Pension is withdrawing an investment of 50 million Danish kroner (8,79 million dollars) from Walmart.



“It is a relatively small investment but still, these things have to be right. We have excluded Walmart in the past and reinvested as we received news of improvement, But we have followed the situation closely and the latest reports show a worsened situation with problems with equal pay and the right to organization” , said Thomas Torp, director of Public Affairs in PFA Pension.



PFA Pension’s standards for employee’s rights are based on conventions from International Labour Organisation (ILO) under the UN.

For more comment from HK Commerce see:

Per Tønnesen, president of HK Commerce: +45 33 30 48 01

Rudi Skov Damkjær, head of communication, HK Commerce: + 45 20 92 34 64

Peter James Stark, International union official, +45 6122 3842