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Thursday, April 09, 2009

Bulls Beef Up Pension Contributions

One of the problems of receiving the Hereford United annual report just a day or so before the Annual General Meeting is that shareholders don't have too much time to study the report.

One particular item that might have needed some explanation was the increase in pension contributions by the club.

In the year to May 2006, the club was reported to operate three defined contribution schemes. The amount paid in was just £4,800.

In the year to May £2007, the amount paid in to the schemes was £13,089.

However in the lastest report it says that 'the company operates defined contribution schemes' with no mention of how many. However the contributions have increased to £27,840.

In all the reports it doesn't say who might benefit from these pension schemes except that the 'number of qualifying directors' is one who is presumed to be Graham Turner.