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Article: 'People have worked here for 40 years. What are they going to do now?' EMPLOYEE TALKS OF WORKERS' FEARS AS PENSION SCHEME IS FROZEN.(News)
- Article from:
- Coventry Evening Telegraph (England)
- Article date:
- July 23, 2004
CopyrightCOPYRIGHT 2004 Coventry Newpapers. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: By SAMANTHA NANDA
JIM BIMBI has paid into the Federal-Mogul Sintered Products pension scheme for 18 years and is very worried about what the future holds.
The firm, formerly Brico, has frozen its pension scheme and told workers to pay their contributions into a separate bank account.
At 54, Mr Bimbi, a married man of Bedworth, is concerned for his family's future. He said: "I've paid 4 1/2 per cent of my salary into that scheme for 18 years and now I don't know what is going to happen.
"We were all called in to meetings and told ...