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Common Challanges for Insurance Industry Unions
Published: 26 April 2013
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Vice President of Life Insurance Unions Federation of Japan was in a mission studying on European Social Security and Private Pension and health care systems. UNI Finance facilitated the mission enabling Koki Isomura to meet UNI affiliates in France, Germany and United Kingdom. Isomura visited UNITES office in London on 18 April 2013 and met National Officer Dominic Hook and Darrell. Dominic explained the recent trends in the Private Health Care and Private Pension systems in UK. Also highlighted the changes taking place in the National Health Services in UK with the governments cut down on expenditure. Private pensions are less attractive to public as a result of miss selling by many financial institutions in UK which were adversely hit during the financial crisis. Dominic said state pensions are decreasing and aged populations are expected to work longer period to become eligible for pensions. He said that the Defined benefits pensions schemes are moving towards defined contributory schemes managed by private sector in UK. As a result Employers pay less and employees get less as pensions. Visiting Japanese delegation observed the UNITES Insurance industry union representatives meeting. Issues confronted by the unions in UK and Japan are similar said Isomura sharing his experiences with the UNITE union representatives. Dominic stressed in view of the common challenges close cooperation and collaboration with Global Union Federations such as UNI is important to resolve the problems with a global strategy as businesses have become global and operate beyond boarders. Jayasri Priyalal Director for UNI Asia & Pacific Finance Sector joined the visiting Japanese delegation to UNITES office in London.  UNITES Insurance Industry Union Representatives with the Japanese Delegation |
