Posted by Bryan Balfour on 20 September 2000 at 19:57:37:
In Reply to: Trustees Accountability posted by Brian Stevens on 11 September 2000 at 03:21:49:
> This type of action has to have an accountability with the so-called Board of Trustess who quite clearly have not been discharging their responsibilities in favour of the Pensioners - the 'Owners' of the funds.
I don't think, in law, we pensioners are the 'owners' of
It may be our pension but it's not our pension fund. It's owned by IBM (UK) Pensions Trust Ltd. We pensioners are not the shareholders of this company, IBM is. Consequently, the Board of Trustees have no obligation to discharge their responsibilities in favour of the Pensioners, but merely to ensure that the
obligations of each plan in the fund are met.
Bryan