Posted by Alan Palmer on 07 October 2000 at 12:48:27:
In Reply to: Scope of C-Plan Dissatisfaction posted by Nigel Reddick on 03 October 2000 at 16:51:55:
I too was caught by the C Plan long service cap. The cap was NOT originally in the plan. It was brought in 1-2 years later. My guess is that it was a response to a government limit on the percentage pension anybody could have at various ages up to 65. I firmly believe it should have been taken off (ie reverting to NO cap) once the government removed its limit. I put that to pensions dept before I took a package, but didn't get anywhere! Before leaving I found out (it doesn't appear to be in any general circulation document) that if a pension is NOT taken immediately the capped years are given back a year at a time. I did that but only for one year as IBM did not keep to other agreements and I got worried.