Municipal workers outraged at managers' hotel trip

The Haifa municipal employees' fund is worth about NIS 300 million and is supposed to be invested reliably to provide high returns for the employees.

By MIRIAM BULWAR DAVID-HAY
November 1, 2007 11:29

Ten managers from the Haifa municipal employees' committee traveled to Eilat for a conference last week at the expense of the committee's pension fund, infuriating many municipal workers, reports Yediot Haifa. The managers stayed at the upmarket Queen of Sheba Hilton, and many took along spouses or partners. According to the report, the managers said they were obliged by the Finance Ministry to attend the conference, which brought together about 1,000 managers of pension funds from across Israel and provided training in managing the funds. But some Haifa municipal employees were not happy, saying that their fund was "not designed for the private use of managers." The Haifa municipal employees' fund is worth about NIS 300 million and is supposed to be invested reliably to provide high returns for the employees.


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