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Eyal Ben Chelouche, the Finance Ministry's Supervisor of Capital Markets, Pensions and Insurance, yesterday praised the Histadrut labor federation for rescinding plans to deduct a fee from members' pension contributions. Ben Chelouche said that Boaz Benzur, an attorney representing the Histadrut company "Haverim u'Marvichim," announced earlier this week that, in contradiction to an agreement that the labor union signed with insurance companies Clal and Harel: "Advice to members will be offered as a free service, paid for by the insurance companies. A substantive decision has been made that any money coming in from management fees will be rolled back to members, without taking any sums out." The treasury noted that a month ago, Ben Chelouche approached Clal and Harel after obtaining a copy of an agreement between them and the Histadrut regarding pensions. The agreement indicated that substantial monetary benefits would be granted to the Histadrut through the establishment of a complex corporate structure geared solely at transferring large sums to the Histadrut from employees' pension contributions. Ben Chelouche said that he hopes the labor union will continue in this vein and correct other distortions in its agreement with insurance companies - including the Histadrut's participation in managing those funds, which creates a conflict between the organization's own interests and those of its members. Haverim u'Marvichim CEO Rachel Turjeman said: "Being familiar with the agreements we have signed with major insurance companies would have saved Ben Chelouche a lot of embarrassment. Benzur was quoted in an interview clarifying the agreements, not making new comments. Hopefully Ben Chelouche will soon realize that the pension venture Haverim u'Marvichim is worthy from all perspectives and offers the best pension insurance for its members."
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