Posted by John Harrington on 01 November 2000 at 17:37:10:
I sent the e-mail below to Mark Oaten, the MP for the Winchester constituency in which Hursley is based and received an immediate response.
From: John.Harrington
>To: moaten@cix.co.uk
>Subject: IBM Pension Plan
>Date: Tue, 31 Oct 2000 14:45:31 +0000
Living in Winchester, I am one of your many constituents who have retired from IBM during the 1990s.
I would be surprised if you were not already aware of, and involved in, the dispute which has been referred to the Pensions Ombudsman re both IBM's and the IBM Pension Trustees' appalling mismanagement of the company's main pension plan, the 'C Plan'.
Primary among the concerns are:
(1) The failure of the Trustees to agree an equitable share of the "surplus" in the C-Plan with the Company, in view of the erosion of IBM pensions.
(2) The issue arising from the siphoning of C Plan assets to a new plan for current employees which has enabled IBM to take several years of contribution holiday while meeting commitments to far better terms under the newly instituted plan
Full details of the situation including copies of letters from your fellow MPs can be found at http://www.gpsu.co.uk/cplan/
If you share the concern of a very substantial number of IBM retirees on this matter I hope that you will feel able to commit your support by writing to the Ombudsman, who is currently assessing the case,
Response from Mark Oaten 1st November 13.40
Thank you for the message- Yes I am involved in this issue and have written a couple of times to the minister - I will certainly do what I can to get justice on this case.
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His respose time is notably better than the Pension Trustees - the letter of complaint which I sent to them on 13th October has yet to be acknowledged.