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"I am staying with the Histadrut's pension initiative despite the job offers I have received, and I have no intention of leaving soon," said Rachel Turjeman, the CEO of the Histadrut Labor Federation's new pension subsidiary, Haverim Umarvichim.

Turjeman, who was appointed to her post by Defense Minister, and former Histadrut chairman, Amir Peretz, said she had no intentions of accepting a government position. She said she recently refused the offer of Tourism Minister Isaac Herzog to serve as director-general of his ministry.

"If I decide to end my tenure, at any stage, I will prefer to go work in the private sector, and to deal with issues related to savings and finance, similar to my present occupation," explained Turjeman.

The chairman of the Histadrut, Ofer Eini, recently expressed his satisfaction on a number of occasions with the new pension initiative, which publishes tenders for pension plans for unions, and provides rebates for those workers.

Eini said that he has asked Turjeman to stay on, and had no intentions to sell the company.

She said yesterday the company intended to expand its activities to "reverse mortgages" for the elderly. The idea is to guarantee the elderly a fixed income in return for mortgaging their assets - usually their homes.