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3 August 2000 Hi y'all
Have a look at
and click on the pdf icon. Item 17 on page 4 is instructive. Also 28. IBM is clearly using a device to get round this as simply to take money out of the scheme, which could well be legal, would mean their in effect committing to increase pensions in the future, which they dont want to do and probably paying tax on the sum removed. We can argue they must as the plan has a surplus and/or maybe get the IR to act?? Its down to "scheme" versus "plan" but perhaps 17 is the "lever"?? Nigel
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