In Reply to: Let's start behaving like grown-ups posted by Lets get real on 07 December 2001 at 22:07:07:
: 1. The existing C-plan campaign has to be more realistic:
: every piece of evidence says that in the "new world"
: all companies' final salary pension are dead meat,
: and a total non-event for new joiners.
:
: 2. The the Equitable debacle, hasn't helped, the Press reports
: suggest that the take-up of AVCs is down lots of percents..
: 3. In this context, the retired C-planners who are still
: getting precisely 100% (no more/no less than they were
: promised!) might like to think about about the bigger
: issues.
:
: Dammit: to misquote Dickens " promise = £1 and pay £.90
: is a breach but to Promise £1.00 and pay £1.00
: is bloody lucky, today"
:
: TODAY IN IBM
: New hires, in common with with almost all other cos, get M-plan.
: How do you think they feel when their "Contribution based plan"
: is ravaged by the stock market down-turn: no comforting final
: salary calculation for them!
: They work just as hard (and more) than you ever did for the Co.
: Ask yourselves: What would a poll of today's IBM
: community vote for?
: And before you get too misty in the eye about it,
: they outnumber you: the NEW IBM is much-much bigger
: then when you left.
: Working much-much harder, with less benefits, less security
: but with genuinely just as much dedication.
: (I really do know this to be true, being very old and not
: off-site lunching n-days a week like we used to!)
: IBM has changed more than you can know - it had to,
: it was going bust when you worked for it.
: I'm a C-plan contributor (and an A-plan person with all that
: Equitable angst, too - but what would you pensioners know,
: you got all that Equitable money transferred into C-plan,
: before today's problems)
: BUT: today, the world, the UK and IBM has moved on:
: The workers' collective that was the old IBM, where no-one ever
: got fired, expenses were ad-lib (who did we entertain this week?
: can't remember, any name will do), are over - no-one ever got
: fired (question this assertion and I will be delighted to start
: naming names of totally & utterly incompetent people who
: were only got rid of when the Co came to its senses).
: So: what does this rant mean?
: Answer: Expect no support whatsover from todays' employees',
: C,M,A or T or the dozens of other other special plans for the
: thousands of new IBMers for brought in from other Cos.
: You, C-planners have had exactly what the Co promised!
: (By the way such has been the achievement of the Co's
: outsourcing business with its take-up of other companies'
: personnel, that the number of C-plan pensioners may be
: already well out-numbered by pensioners from ASDA, DSL C&W etc.
: And a final thought:
: Such has been the turnover of IBM staff, it is probable that
: today's IBMers don't even know what you are talking about when
: you try to energise them about the "Great pension heist".
: So start living with the reality that you used to work for
: a great company that made a pact with you - part of it
: contractual, part of it non-contractual - and that, against
: all odds it has met the contractual element and will probably
: meet the other bit too.
: And for the very very envious (but thoughtful) people
: there's the always the parable of the vineyard, where each
: labourer got precisely what was promised! = C-Plan
Sirs,
Is the tone of this comment really necessary!
It is fair to point out that the world has changed and of
necessity this imposes actions on any business that alter
how it operates and behaves. Anyone who has worked for IBM
for any period is entitled to express nostalgia for the 'good
old days', they were good and reflected a fortunate period.
I appreciate its not like that anymore but in launching a
tirade like this that insinuates amongst other things that
todays employees work much harder that C-Plan retiree's is
unquantifiable. IBM has always been fortunate to enjoy much in
the way of commitment, past and present. While allegations of
widespread crimminality in expense claims are distasteful.
This website legitimately airs reservations about our pensions,
such interest is vital and any actions by any company or Government
that influences the renumeration we are expecting to receive from
funds we contribute to should be scrutinised.
Surely the impact of any counter to some of the (admittedly)less
than charitable comments regarding IBM use of the fund found
here would be better presented in a more objective manner.
I am wary of any interference in funds set aside to pay for
future obligations (this is some of my money), of equal moral
import I feel is utilisation of the fund to create an illusion
of company profitibility (vapour profits), though IBM is hardly
trailblazing here as slight of hand techniques are endemic to
modern society because they are a part of intelligent human nature.
What IBM is doing is undoubtedly legal, those taking these decisions
are competent and well paid for their abilities. Though for one
I remain unhappy about what I consider tacky decision making.
Especially if some of the motivations behind these moves are
simply intended to ensure senior executives receive bonus payments.