Posted by A Planner on 17 July 2001 at 06:25:47:
I'm now totally confused about how contributions to the A Plan will be effected by the 16% reduction.
As I understood it the A Plan was a guaranteed annuity. Does this mean that as well as the 15% reduction if you leave (now reduced to 7.5%) all plocies suffer a reduction of 16% on the total fund - or is it just the terminal bonus that's reduced? Also, if the A Plan is a guaranteed annuity does this then mean that we're about to hear an offer of Equitable to buy those rights?
I know that this is primarily a C Plan site - but does anyone have a copy of the A Plan description please?
Shame IBM Pesnions department doesn't write to members and explain?!