Posted by Peter Jennings on 26 October 2000 at 09:13:48:
Rod Ward (below) and I work together and when he sent his e-mail to OPAS, I folllowed it up with this:-
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Dear Mr Spencer,
I believe you have received recently an e-mail from my colleague, Mr R Ward, on the above subject (OPAS ref 26121).
I endorse all he says and would like to add the following points.
Some of the money in the C plan was transferred in from other companies pensions schemes when people joined IBM.
This money and any surplus arising should not be used for any purpose other than to provide pensions benefit for the original contributor.
I also believe that there may be a conflict of interest for some of the pension fund board members who are also senior IBM employees.
Their annual bonus and share options depend, in part, on the profit made by the company, so any money not paid to the fund(s) is of direct benefit to them.
I too would like to register my interest in this complaint, my address is:- (supplied)
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I have also written to my MP (Mark Oaten) about 2 weeks ago, but have yet to receive a reply. Amongst other things, I gave him the URL of this site. I will post anything I get from him.
Peter Jennings.