Around 60 Bermuda Industrial Union construction workers attended a meeting last week to explain how the new pension law will affect them.

BIU Construction Pension Fund administrative officer Cal White said there was confusion on the issue though workers could find themselves better off.

He explained: "The BIU currently offer a defined benefit plan where spouse survivor benefits are an option.

"This element will become compulsory under the new Act and will give 60 percent of a worker's pension to the spouse for as long as they live.'' However, both workers and employers can expect to pay more under the new National Pension Scheme which begins in January.

Mr. White explained: "By 2004 both companies and employees will have to put in five per cent of their income. Currently they only pay around one percent.'' Mr. White said he was still waiting for the Pension Commission to issue regulations to show how people could move their contributions when they change companies.

He added: "It is very important people are well educated when making decisions about their pensions. And we would encourage employers to be knowledgeable and to include employees in the decision making process.'' Bermuda Industrial Union president Derrick Burgess has accused building firms of trying to lure workers away from the pension scheme run by the union.

He said they were bypassing the union.

"It's not possible to say if they are being offered a better or worse deal,'' Mr. Burgess added. "Workers should talk to us.'' Construction workers wanting to know more about pension rights can call Mr.

White on 292-6739.

BUSINESS BUC