In Reply to: Re: Floating an idea ....... posted by Eeyore on 28 February 2006 at 22:16:37:
Eey
There is much in your note to agree with, but not everything. Taking your numbered points:
2. On the topic of younger M plan folks, the problem is that they now see the company contributions that enhanced M plan folks will get, and they don't like it.
3. Double dipping for people at the C/N Plan maximum has always been available, because anyone can switch to M Plan, I believe.
5. I don't think the UK proposals were part of the worldwide roll-out. If they were, then C Plan would have been shut down. I believe Mr Hirst when he says the decision was all his. (Because we don't see IBM UK's results, I don't think many of us appreciate how grim IBM UK's business is today, particularly on the services side.)
The idea that IBM UK HR is perceived as doing a very good job these days makes me wonder what planet these perceivers have been on.
- It was HR that brought in the Contribution Increases last year, and it was the head of HR that said this would put the pension scheme on a firm footing for the long-term future.
- And it is HR that is jointly fronting these pension proposals, which again are claimed to put the schemes on a firm footing. How many more times will employees and retirees be taken in?
- The uptake of You* was rather less than total. The head of HR got a rough ride in several locations when presenting the offering. The IBMers who ducked out of You* had to take positive action to do so, and at financial cost to themselves. This messageboard covered the Life Assurance aspects of You* in considerable detail, and most contributors were unhappy, I seem to remember.
I notice in today's Times the following quote:
"People are disgusted. The only reason they stayed ... with no pay rises and no benefits, is because they had a final-salary scheme."
Actually the quote comes from a former employee of Mercer, the firm that provides IBM's You* software. But I think it could just as easily apply to the IBMers in the 30-50 age group who now realise the writing is on the wall for C Plan, I Plan and N Plan.
Jo E