Posted by Roger Burtenshaw on 21 September 2000 at 10:14:20:
In Reply to: Letter to MP posted by Chas Tyler on 18 September 2000 at 20:23:05:
I have written the following letter to MP for Havant today:-
The Rt. Hon. David Willetts, M.P.
House of Commons
London SW1A 0AA
Dear Mr Willetts,
I'm an IBM United Kingdom retiree and I'm concerned with the transfer of funds from a closed contributory final salary pension plan to a new defined contribution pension plan. IBM's purpose being to allow the company to take further 'contribution holidays' by unfairly diverting members contributions to another plan for a different member group.
In the USA, IBM is receiving very poor press as a result of its callous raiding of its current employees pension funds, here IBM appears to be raiding the future pension increases of all its retirees and most employees with more than 5 years service.
Is IBM "Doing a Maxwell" with the pension fund contributions paid in by former employees and still being paid into by current pre-1997 IBM employees.
I am writing to you to ask if you are aware that a pressure group has been formed to present the case to the ombudsman and the controlling body for pension funds.
Are you able to lend your support to an issue that is affecting a significant number of people in Havant?
For the current state of the issues please refer to the website: http://www.gpsu.co.uk/cplan/
Yours sincerely,
Roger Burtenshaw