The Electrician Volume 29

The Electrician Volume 29

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1892 edition. Excerpt: ...With a view, therefore, to supplementing their allowances from the pension fund, the actuaries advise that, in addition to the 2 per cent. just referred lo, the Company should continue their present contribution to the endowment assurance fund in full until all the existing policies are paid 03', and allow the savings effected by the premiums ceasing to be payable to the assurance company, as the policies mature from time to time, to be applied exclusively for the benefit of the older servants. The wish that the older servants should not be placed on a less favourable footing than the younger members of the staff was strongly expressed at the last meeting. The actuaries further recommend that the Company should guarantee 4 per cent. interest on the accumulations of the fund. Provision is also made in the actuarial calculations for dealing with cases of death or breaking down in health before reaching the retiring age, and for other contingencies. This is a fair outline of the actuaries' scheme; but as certain details are still under consideration by the Board, it is proposed to ask you to-day to approve a resolution in general terms empowering your Directors to bring the scheme into operation when the details are finally settled. The report of Messrs Neison and Schooling to which I have referred is laid on the table, and as it is a long and elaborate document it can be seen st any time at the Secretary's office. You have now got to know about as much as we do ourselves concerning this matter. The whole scheme is based upon sound principles. We have employed the best actunrles to deal with it, and what we ask from the Company is not a. very excessive sum, and we believe that it will help our staff" in their duties and make them look...
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Product details

  • Paperback | 830 pages
  • 189 x 246 x 42mm | 1,451g
  • United States
  • English
  • black & white illustrations
  • 123677017X
  • 9781236770172