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NBC pension scheme planned

19th October 1973, Page 30
19th October 1973
Page 30
Page 30, 19th October 1973 — NBC pension scheme planned
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Which of the following most accurately describes the problem?

• Hourly and weekly paid employees of the National Bus Company will be eligible for a pension from April next year. A scheme to be introduced then will cover employees between the ages of 25 and 60 (55 for women) and a death benefit for employees over the age of 18.

The death benefit will be a noncontributory lump sum payment equal to six months' pay. Pensions will be provided on retirement at 65 (60 for women) and widows' pensions on death.

Although final details of the scheme are still to be worked out, the proposals have been backed by the relevant unions.