Showing posts with label Cllr Nareser Osei. Show all posts
Showing posts with label Cllr Nareser Osei. Show all posts

Wednesday, October 20, 2021

Newham Council Pension Committee (& we are shortlisted for "Best Climate Change Strategy" award)


Great to be back tonight in the Newham Council Chamber in East Ham Town Hall for a meeting. Some interesting statistics from the agenda which included our draft annual report on the pension fund. 

  • There are 29,122 scheme members
  • 53 different employers are part of the scheme (not just the Council)
  • The value of the scheme increased over the year from £1.37 billion to £1.59 billion
  • There are 22 pensioners/dependants over the age of 100 and 48 dependants under the age of 20 receiving a pension. These facts should be really important in persuading staff to join or stay in the scheme. 

Remember if you work for the Council or any of the active employers and die - your partners and children will NOT get a penny if they are not in the pension scheme!

The Chair, Cllr Nareser Osei, also announced that our fund had been nominated for "Best Climate Change Strategy" Award by LAPF Investments

In a belated (and sadly flippant) response to a good technical comment by an officer, who said she did not want to argue with an actuary (our pension/accountant specialists) I did say that I used to go out with an actuary once, and we used to argue all the time! (this is based on fact)

The meeting is on https://youtu.be/v5whRSuo8-A



Friday, December 04, 2020

Newham Council Pension Fund wins LAPF "Good Governance Award"

 

Good Governance Award

Winner: London Borough of Newham

Finalists
Essex Pension Fund
London Borough of Newham
West Midlands Pension Fund

I was really pleased to see that Newham won this award on Tuesday.  Great work by the Pension Committee Chair, Cllr Nareser Osei, other members of the Committee and the Pension Board, Officers and advisors. A team effort. 

However, this shows how effective Councils committees can be and also show how trade union representation on both the Pension Committee and the Board improves good governance.  

Monday, September 28, 2020

"I was so scared of catching coronavirus in hospital I nearly died"

"As a black woman, the risk seemed too high. But when I think about how worried the doctors were about me, I realised what a mistake I’d made...

Independant

I started feeling unwell at the end of August. Initially, it was just lethargy that I put down to lockdown and not leaving the house every day. Then things got worse. I started feeling faint and vomited for hours at a time. This went on for days. My first thought was: could I be pregnant? But Clear Blue tests told me multiple times that, no, I wasn’t. I started seeing blood in my urine, which scared me.

I contacted my GP who told me to do a urine sample. While I was waiting for my results, things deteriorated further. I started to feel thirsty all the time, the vomiting and blood in the toilet were getting worse. I lost my voice and could barely speak. A few days later, a locum from my GP practice called: they had lost my urine sample and I’d have to do another one, in the meantime, they’d prescribe me antibiotics for another week. My boyfriend (Chris) had by then started pleading with me to go to A&E. My answer was a straight no: "If I go to hospital, I'll get Corona. Do you want me to die"?

I grew up and am a Labour Councillor in the London Borough of Newham, which at one point had one of the worst rates of Coronavirus in the UK. It is also one of the most diverse parts of London, which is notable considering how many news stories we’ve seen about how the virus proves even more dangerous, and even more deadly, for people from black and other minority ethnic backgrounds. By the time I fell ill, I’d already seen people in my community get sick and pass away from the virus. As a black woman, there was no way I was willing to risk going to hospital where I might catch Covid-19 and never leave.

A few days later, Chris stopped giving me a choice in the matter. I couldn’t get out of bed and was vomiting bile. I felt like I was about to die. He packed me a bag, called an Uber and told me we were going to the hospital.

When we arrived, I was sent straight to A&E. Because of Covid restrictions, I had to go alone and Chris sat outside. The doctor ran some blood tests, which took what seemed like forever, as my veins are very hard to find, and came back to tell I had DKA (diabetic ketoacidosis) which is a very serious condition and potentially life-threatening.

They admitted me to a high dependency ward (again, alone as Chris wasn’t allowed in) where they put several cannulas into me and began pumping my body with fluids. Chris went back home for an overnight bag for me. When he came back to the hospital, I begged the nurse to unplug me for five minutes so I could see him and get my things, which she reluctantly agreed to. I burst into tears as I hugged him, and then went back to my bay which I didn't leave for the next three days.

For the following five days I spent in the hospital, the nurses and doctors monitored me continuously and took a blood test every hour, including overnight. On the fourth day, they told me I had type 1 diabetes. The nurse showed me how to inject myself (which I need to do five times a day) and how to test my blood sugar levels. I also spoke to a dietician about the changes I'd need to make to my lifestyle and food choices, which isn't as bad as I first feared. We even went through my Instagram food pictures.

It's been just over two weeks since I first went into A&E and I'm still processing everything. While there's a long road ahead to deal with this, I'm just thankful to be home and able to plan for the future.

When I think about how worried the doctors were about me when I arrived on that ward, I realise what a mistake it was to refuse to go to hospital out of fear of the virus. I was so scared of Covid-19 killing me that something else nearly did. Other illnesses will always exist, and the NHS is there to treat us when we need it most – I hope others use it in time too.

Nareser Osei is Labour councillor for Stratford and New Town ward in Newham

Wednesday, July 29, 2020

Newham Pension Committee: We have a 111 year old pensioner! No tobacco pledge (and why parents should join the LGPS - and anyone else lucky enough to be eligible)

This evening I took part in the Newham Council Pension Committee, which runs the staff pension fund (under government regulations and guidance). It was our first "public" committee meeting (via zoom) since lock down. It was broadcast live on Facebook (you can still see it if you are so inclined)

The committee is composed of Newham Councillors, trade union representatives, council officers and professional advisors. The Committee (supported by officers and advisors) manages the £1.5 billion pension fund which is invested in a wide range of different equity, bond, cash, property and "alternative" investments in the UK and across the world.

The most important thing that came out of this evening's meeting is that the fund has survived (so far, touch wood etc etc) pretty well during the financial turmoil and is now nearly back to pre covid fully funded basis. Obviously there are still massive investment risks, especially if there are future covid-19 related lockdowns.

The most interesting thing that I learnt tonight is that the oldest Newham Council pensioner is 111 years of age! So I suspect that they may have received a pension for at least 59 years (if not longer) and only paid in for a possible maximum of 40 years.

The next most important thing I learnt is that the fund has 46 children (under age 20) who are dependents of pension fund members who have died. I am sure that many employees who are eligible to join the pension scheme but don't - do not realise that not only do they get a decent pension but free life assurance and financial support for their kids if they die while they are dependant.

The other important public issue is that Newham is the first Council pension fund in the country to sign up to a call for a tobacco free Portfolio pledge and also congratulations to our Chair, Cllr Nareser Osei shortlisted for the Women in Pensions Awards 2020 in the category of Trustee of the Year.

The Chair is the only shortlisted finalist from the Local Government Pension sector. The awards will take place on 25th November 2020).

There were some other serious issues which were due to confidentiality are exempt and had to be discussed in a private session.