Those who ask don't get
AN encouraging note has gone out to the staff, past and present, of Harcourt Brace, the publishing house. They are being encour- aged to provide for their old age, because from now on Harcourt Brace won't. It has stopped making contributions to its pension fund, which is being wound up. This will take a year, but if in the meantime the prospective beneficiaries have any questions, it will be in their own interests (so the fund's trustees say) not to ask them. Answering questions costs money, which will have to come out of the fund, leaving less to pay for pensions: 'all administrative expenses must be charged against the fund, thereby depleting its remaining assets.' So shut your eyes and open your mouth and see what a little bird brings you — but of course if you open your mouth too wide the bird may be put off. That is what comes of entrusting your old age to the caprice of an occupational pension scheme. Ask a sensible question and you get a silly pension. What lotteries such schemes can be! We should all be encouraged not to rely on them, and Harcourt Brace has found a handy way to do that.
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