HESTA and Transfield - its a problem. Received this from the great and good Sally McManus last week via broadcast email (which may not apply to me in Australian Ethical Investment): Dear Tom, Many ASU members who are also members of the HESTA Superannuation Fund have raised the issue of HESTA being a major shareholder in Transfield Services who have been given a contract by the Federal Government to run welfare services for asylum seekers in Australia’s offshore detention centres on Manus Island and Nauru. ASU members have been concerned about their money being used to support a corporation making money out of the system of off shore detention that the UN, refugee advocates who are also ASU members (asrc.org.au/) and many other organisations have expressed deep concern over the treatment of people detained in these facilities. Members are also concerned that that Transfield has no background of expertise in welfare services. Many members have expressed a view that they are unhappy with their money being used to support a company making profits from this system. As a result, the ASU will be raising these issues with the HESTA Board members and asking them to take action to divest from Transfield Services. If you have ethical concerns about where your money is invested you can take action about this yourself by contacting HESTA directly 1800 813 327. You can also ask questions and make inquiries here: hesta.au/contact.html. HESTA has informed us that they provide investment options that have no exposure to Transfield Services. Prior to making investment decisions about super you should consider obtaining financial advice - the ASU is not in a position to give you financial advice. If you do choose to decide where your money is invested and if you are concerned where your money is going, you can do something about it. The stance your union has taken has received media. You can read about it here. In solidarity, Sally McManus Branch Secretary Australian Services Union NSW & ACT Branch
Posted on: Sun, 30 Mar 2014 02:09:17 +0000