The Association of Members of IBM UK Pensions Plans (AMIPP)
This page amended June 2007

Deferreds become retirees, if they live long enough, so have concerns in common with retirees.

There is a concern, unique to deferreds, about how pension earned with IBM might lose value between the time of leaving IBM and the time of starting to take the pension.  There were once no regulations about this, and people who worked for IBM long ago have found that the pension (in pounds) had not changed over the years and the pension ultimately delivered was worth only a fraction of the pension earned, because of inflation.  However, if you left after 1990, the regulations ensure revaluation of the pension, fully protecting the value unless inflation exceeds 5% pa.

Some deferreds will only be due small pensions because they did not work long for IBM.  It is possible to opt for receipt of a single lump sum instead of a very small pension.  Those considering that option will want to judge whether the lump sum fairly represents the value of the pension foregone.  See Transfer Values for information on the general question of calculating a single figure to represent the equivalent of a future lifetime of pension payments.

Deferreds were disenfranchised for the trustee elections that have been held.  We do not know (June 2007) if this will continue.  See elections for a discussion of whether all members with an interest in good governance of the Trust should have a vote.