Union Steam Ship Company's Benefit Scheme.

Evening Star, Issue 8530, 1 June 1891, Page 3

Union Steam Ship Company's Benefit Scheme.

For Bome time past the direotors of the Union Company have had under their consideration the adoption of a aoheme by which the relatione between the company and their employee afloat would be drawn more cloaely together, and the carrying out of whioh would tend to make each take a more direct interest in the other's welfare, and so lead to the establishment of a strong bond of Jiympathy between them. Ajs the most ikely means of bringing about this desirable Btate of affairs, the directors have decided to establish a mutual benefit society, to be maintained by contributions from the members, assisted by a contribution from the company of LSOO per annum. In addition to this yearly subsidy the company give a donation of LSOO to start the sooiety. The benefits to be oonferred are similar to those granted by other benefit societies—viz., peouniary relief in oases of sickness or disablement by acoident; medioal attendance and funeral allowances, etc ; but the subsidy contributed by the company enables the members' contributions to be fixed at rates much lower than usual, while a new and attractive feature of the sooiety is a provision for refunding to members retiring from the service the surrender value of their contributions. The aooiety oome into existence to-day. The directors of the company are greatly interested in the result of their experiment, aB they look upon the benefit sooiety as a step towards the establishment of a pension fund for the benefit of employe's retiring after a long period of servioe in the company's employment.