Posted by Pete Warren on 25 October 2000 at 16:33:28:
In Reply to: Questions to put to a Pension Specialist posted by JIM WILSON on 25 October 2000 at 10:35:26:
My two penny worth:
A) IBM have stated that the two plans are one fund, therefore cash can be transferred without penalty as it is the same fund.
A2) M plan IS money purchase.
B) Change to the trust deeds in February to retrospectively allow the transfers that had already taken place. Members should have been informed TWICE before action.
D) If indeed the M & C Plan money are found to be separate funds then for IBM to remove surplus they have to contact members and possibly make any pension from the fund index linked BEFORE surplus can be removed.