PENSION SCHEME.
A pension scheme which is likely to occasion much interest amongst mercantile officers -was inaugurated nt the beginning of this year by Messrs Elder, Dempster and Co., Liverpool. This is intended to benefit alt members of their staff, including captains, officers, and engineers, serving the company at Home and abroad. Tho nucleus of tbe fund is formed by a sum of _C20,_56- contributed out of the estate of the late Sir Alfred Jones, while a furtheir amount of £20,000 will be. received from the annuity fund under the same will, and to these sums will be added a further £16,500 given by Me_s_B Elder, Dempster, and Co. This i_*a substantial beginning, and every member in the company's service from Ist January will be asked to contribute to the fund a percentage of salary or pay for the time being; Tlie retiring age is fixed at Go years for other than members scrying on tho West Coast of Africa staff, where thc is reduced to 55 years. The ago'far entrance is limited to under 40 year*, but provision ia made for those who are now in the company's service over thc age limit. In tho event of any person retiring on the ground of ill-health, of the age of 50 ot upward, a reduced 6_.pe_rannua.tion allowance is provided.
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Bibliographic details
Press, Volume L, Issue 14907, 21 February 1914, Page 13
Word Count
219PENSION SCHEME. Press, Volume L, Issue 14907, 21 February 1914, Page 13
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