Posted by Brian Thubron on 09 October 2000 at 21:36:08:
In Reply to: C Plan is a 'Contributory Pension' posted by Roger Burtenshaw on 20 September 2000 at 20:49:29:
When IBM employed me in 1965, I was told that my remuneration package not only included salary but also benefits i.e. pension and insurance. Later, as a manager, I was often instructed to relay to the troops that their remuneration consisted of salary plus benefits. (Usually in times of low or no increases) In addition when the salary comparison figures were produced to show how IBM was in step with comparable companies', benefits were also part of the argument. If the contributions made to the pension fund by the company were part of my annual remuneration then these contributions plus the contributions made by me were mine! Collectively the contributions to the pension fund belong to the members, both active and retired. Any surplus generated by our money is ours. This wasn't some charitable gesture by the company on our behalf this was money we earned