NFC to review pensions
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• NFC announced a review of its controversial pension scheme at an emotional meeting last week after pensioners argued they are being poorly treated by the company.
The review, which NFC says has been underway for several months, is designed to reduce anger among "a number of pensioners" who have registered concern over low pension payouts while the company maintains a "holiday" from its own contributions to the £900m scheme, The NFC scheme, which covers 25,000 pensioners, has a £263m surplus, Although 16,000 of NFC's staff continue to make contribu tions, the company suspended its payments in 1988.
At a fund meeting last week in Birmingham pensioners threatened the company with taking their case to the Pensions Ombudsman.
One pensioner said he had left NFC in 1982 after 32 years and received only £104.15 every four weeks.
The transport union RMT, which is supporting the pensioners, says: "They are extremely unhappy and they feel the company is using its pensions holiday to buoy up its accounts.. they also believe the company is greedy and should give the option of benefit improvements."