In you editorial last week (Borehamwood & Elstree Times, October 18) you said that in the last five years a total of £2.5million is said to have been paid to around 30 people at the time they stopped working at Ridgehill.
This is not true, it has not. Most of the money was paid into the Hertfordshire County Council pension scheme to meet the pension costs of both the association's current and former staff. Less than half of it relates to early and ill-health retirements.
The rest arises because of a deficit in the pension schemes on their dividend income which the association, like all employers, has had to make good.
I hope this clarifies the position for your readers.
Vinod Sabharwal,
Head of finance,
Ridgehill Housing Association,
Borehamwood.
October 25, 2001 10:02
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