In Reply to: Re: Questions with respect to "competing favourably". posted by Brian Marks on 05 November 2004 at 16:09:12:
: We must be comparing final salary schemes or comparison doesn't make sense.
I agree. I think there may be a fundametal issue here about what is a realistic interpetation of the promise. Hence my question.
Surely IBM wasn't saying that "IBM's final salary pension scheme would only compare favourably with final salary pension schemes offered by other leading employers" but that the pension would compare favourably with pensions scehemes provided by other leading employers.
Assuming my interpretation ie the second was correct - would IBM have complied then with it's promise in your opinion?