The "Benefits of Nationalisation" (1960)

From the October 1960 issue of the Socialist Standard

Some long-service railwaymen, on retirement, are invited to public presentations, praised for their loyalty, and given a cheque for £5. Afterwards, British Railways deduct the money from the men's pensions. A railways spokesman explained yesterday: 

“Before nationalisation it was the custom to present long-serving employees on retirement with a cheque. A nationalised industry has no power to make gifts of that kind, but it is often felt preferable to make a formal presentation to a retiring railwayman rather than let him retire with the occasion unmarked. It is just that to comply with regulations the cheque has to be regarded officially as an advance payment of the pension.”

A typical case was that of Mr. Pat Wiggett, of Hathersage, Derbyshire, who has just retired—after 46 years’ service—on a pension of 9s. 7d. a week. It should have , been 9s. 9d. but Mr. Wiggett was handed a cheque for £5. British Railways are deducting the money at the rate of 2d. a week for 11 years.

The Guardian (8/9/60.)