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NFC peps up its PEP plan

15th November 1990, Page 14
15th November 1990
Page 14
Page 14, 15th November 1990 — NFC peps up its PEP plan
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Which of the following most accurately describes the problem?

• NFC has expanded its employee share ownership scheme with the introduction of a Personal Equity Plan (PEP) which is open to NFC employees and the public.

NFC says it does not intend to run the PEP at a profit; the purpose is to encourage wider share ownership. The scheme involves an annual management charge of 0.5%, but no initial charges or commission. Speaking at the recent Confederation of British Industry conference, NFC chairman Sir Peter Thompson called on the Government to give more incentive to long-term investment schemes like PEPS.

Around 55% of NFC's shares are held by employees, who will have to sell their existing shares and then reinvest if they wish to transfer shares to the PEP.