Re: Dramatis Personae

Posted by Richard Phillips on 14 October 2000 at 08:13:09:

In Reply to: Re: Dramatis Personae posted by Bryan Balfour on 05 October 2000 at 10:17:56:

But, Bryan, given the size of the surplus, the discretionary increases they pay could be much larger, and at least the full rate of inflation. As it is, they are not arriving annually any more. I know they are not obliged to pay them, so it is time a change in the law made them have to do it, especially when they are using money from our fund to pay inflation-proof pensions to others because the law says they have to.
Unless the law insists, the US company can prevent IBM UK paying any increases at all in the future, and the word is that that is what they would like to do.
If inflation takes off again because of an oil crisis, how quickly will your pension be worth a fraction of its value now?