In Reply to: Discretionary Increases posted by GrumpyGuts on 15 February 2006 at 17:54:34:
From the IBM Pension and Life Assurance Plans Handbook, Introduction p.11 issued January 1993:
'In the past it has been the company's practice, periodically to increase pensions in payment on an ad hoc basis. The company intends as far as possible to maintain its ability to award such increases and therefore makes a specific allowance for this witihn its annual contribution to the pension fund. However, in common with private industry in general the company cannot guarantee these increases because it is impossible to predict the economic environment that will affect their provision.'