OF PONTARLIER (DOUBS)
The funds remain deposited in the firm and are
productive interests; each workman receives a booklet which
reports to him, at the time of accounting, the share of the
benefits in which he is vested.
In order to make sure the workmen do not waste the
savings accumulated for their benefit, the rules stipulate that
the shares are nontransferable and nondistrainable and that
participants can touch their share of the capital only when they
leave employment with the firm. The only exception to this
rule is for workers who want to acquire a house. Mr. Pernod
agreed to that, figuring that settling on real estate is a
guarantee against the temptation to waste money to which
workmen in possession of movable capital easily succumb.
At the end of each year, all participants are vested in the
interest accrued to them that year.
The benefit shares increase with years of service for a
period of six years, after which they reach their maximum rate
which was in 1894 40% of wages; the minimum rate was
10%. The retirement fund had grown as of December 31st,
1894 to 267,566.25 francs. Retiring workmen and heirs to deceased workmen have, since the foundation of the retirement fund, withdrawn the sum of 238,705.25 francs.
We have before us (December 1894) the account booklet
of a worker who has participated in the plan since 1871, and
whose share has accumulated with interest to a total of
11,351.70 francs.
The firm insures its workmen against accidents; it even pays the premiums itself without making the workmen pay into the pool.
