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Article: Prudent providence.(Letters)(Letter to the editor)
- Article from:
- Financial Management (UK)
- Article date:
- October 1, 2006
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Copyright informationCOPYRIGHT 2006 Chartered Institute of Management Accountants (CIMA). 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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Bernard Potter (Letters, September) raises two good questions about Nick Eyre's feature on the Co-operative Group's pension arrangements. In answer to his first point, under the career-average scheme, pension accrual in any one year is linked to the retail prices index at the date on which the member leaves or retires from service. In practice, therefore, there would be very little difference between final-salary pension and career-average pension in the example quoted.
The Co-operative Group adopted a prudent approach to the ...
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