Transfer of remuneration
In accordance with the ETUC resolution of 15/16.10.2008, workers' representatives on an SE Board must, at least, transfer 10% of their remuneration, if that remuneration is less than or equal to €3,500; in addition, transfer 90% of any remaining remuneration over and above €3,500.
Transparency concerning remuneration
- The level of remuneration for all members of the supervisory or administrative board is usually decided by a company's General Shareholders Meeting. There must also be transparency in public information about remuneration, certainly at listed companies.
- Workers' representatives have the same rights and also duties as all other members - consequently, they are treated equally with regard to compensation.
- Serving as a supervisory board member or non-executive director of an SE entails a readiness to take on additional tasks above and beyond normal working in order to be properly prepared for board meetings. It is not supposed to be a full-time activity for which a workers' representative receives special release from work.
- The ETUC understands the tasks of SE board-level representatives as a 'European mandate', which means that they are not merely an individual matter. A representative in an SE boardroom should consider the interests of all employees, regardless of their nationality or origin.
- For this reason the ETUC has adopted rules that apply to all elected representatives in SE boardrooms. However, monitoring the compliance of individual members falls within the competence of the relevant trade union.
- The ETUI reports once a year on who has contributed how much to the Fund. The report will be available to the trade unions in question.
Principles and rules for the transfer of (part of) remuneration
The basis for the amount of the transfer is the value after tax, according to national rules.
- The resources will be paid to the corresponding member organisations of the ETUC (or their affiliates) or to trade union institutions (foundations, educational institutions, and so on). These, in turn, are obliged to pass on 50% of the funds to the European Workers Participation Fund (EWPF) set up by the ETUI.
- Affiliates may decide that the part transferred to the EWPF shall be higher than 50%.
- The resources that remain with the trade unions at national level should also be used for activities in the field of worker involvement in the SE.