356 PENSION FUND. 



their own. It is seldom that officials give up their 

 position, since they see their future assured in the 

 service of the firm. The workmen also remain per- 

 manently attached to the firm, as the amount of the 

 pension rises with the uninterrupted period of service. 

 After thirty years continuous service the full old 

 age pension commences with two thirds of the wages; 

 and that this is of practical importance is proved by 

 the respectable number of old age pensioners who are 

 still strong and hearty, and beside their pension con- 

 tinue to receive their full wages. But almost more 

 than the prospect of a pension the endowment fund 

 for widows and orphans connected with the pension 

 fund binds the workmen to the firm. It has been 

 proved to be the case that this endowment is still more 

 urgent than the invalid pension, as the uncertainty of 

 the future of those dependent on him commonly 

 weighs more heavily on the workman than his own. 

 The ageing workman nearly always loves his work, 

 and does not willingly lay it down without actual and 

 serious need of rest. Accordingly the superannuation 

 fund of the firm, in spite of a liberal use of the pensions 

 by the workmen themselves, has only consumed the 

 smaller part of the incomings from the interest of the 

 funded capital and the contributions of the firm to- 

 wards pensions; the larger part could be applied for 

 the support of widows and orphans as well as for in- 

 creasing the capital stock of the fund, which is destined 

 to secure the workman's claim for pensions in the 

 event of the possible liquidation of the business. 



