If you registered on the website before 15th December and HAVE NOT received this newsletter as an email, please send a note to Mike Eacott. Also check the Lost Members page to see if we have lost contact with you.

15th December 2000

Dear C-Planner, N-Planner or E-Planner,

First of all a "HAPPY CHRISTMAS" to you.

You are receiving this email because you have registered on the CPlan Web site: http://www.gpsu.co.uk/cplan/ If you do not wish to remain registered, then please visit the site and use the registration form to "unregister".

NEWS SUMMARY

Everything is proceeding well. We have now been offered some free professional expertise to support our aims of having the Trustees meet their legal and moral commitment to work for the benefit of fund members rather than for the benefit of the Company.

We eagerly await the Ombudsman's Report.

IBM is not alone in attempting to "misappropriate" pension fund assets. Other companies are also attracted to various schemes which enable them to access fund surpluses and use them for other purposes.

This means the problem is becoming increasingly a political issue. We are already in contact with many sympathetic constituency MPs and active senior civil servants. There is also a real prospect of Union support, too, for those who are members of a Union (e.g. MSF/ITPA).

Of course, we expect road blocks and difficulties to be put in our way by those Trustees who are "owned" by IBM. We have to live with that and we will try to keep you informed of their actions. But in the final analysis, with right and logic on our side and with your support, we shall achieve our joint aims.

Here is some information about recent events.

THE BARCLAYS RULING

Many of you will have read about the judgment of the High Court on 21st November in Barclays Bank v Holmes, in which the Court upheld the Bank's right to use the surplus in its final salary pension scheme fund to meet its payment obligations to the members of its money purchase pension scheme. This is a complex case and needs time to evaluate. However, from preliminary studies there do appear to be significant differences between the Barclays situation and that of IBM. There is also the possibility that Mr Holmes, in whose favour the Pensions Ombudsman ruled earlier this year, will appeal the High Court's decision.

OUR COMPLAINTS

The original complaints made by Mike Cawley have now been supplemented by further complaints made by Dave Mitchell. These are now being considered by OPAS. We will keep you posted on the progress of these complaints.

PROPOSED C PLANNERS ASSOCIATION

We are now considering the formation of a "C Planners Association" to represent the interests of members of the IBM C Plan and other IBM Defined Benefit pension schemes (e.g. the N and E Plan etc.) both in discussions with IBM and generally. However, at this time, we have not completed an assessment of the various legal and other options and we still await the Ombudsman's ruling.

The number of C Plan members who have registered via the site continues to grow on a daily basis and we now have sufficient support to form an Association, should this be thought necessary in order to take the matter further through the courts or to the media.

In the meantime, however, IT IS STILL IMPORTANT to inform all C Plan members of the situation regarding the pension fund. There are still many who do not yet know the facts. If during this coming Christmas season, you meet up with old friends or work colleagues please tell them about it and mention the website to them so they can obtain the details. Tell them about:

If anyone is concerned about registering their name on the website, please mention that the site (gpsu.co.uk) is registered under the Data Protection Act. All personal data is handled according to very strict privacy rules and will NOT be made available to other organizations.

• Print down the "Aims and Strategy" page on the website.
• Make several copies then post a copy to old colleagues.
• KEEP A COPY OR TWO IN YOUR WALLET/HANDBAG FOR GIVING TO FRIENDS WHOM YOU MIGHT MEET SHOPPING.
• PUT A FEW COPIES IN YOUR CAR for the same reason.
• PUT a copy in any late Christmas/New Year cards you send
• If you receive an email greetings from an old colleague, email them back with the website URL.

Many retirees do not have access to email, so consider becoming an "EMAIL BUDDY" - ask them if you can register their name, status and region details on their behalf. We do not yet have the resources to handle physical mail, but if you act on their behalf we can then include them as part of the group.

THE WEBSITE

The Message Board continues to be the place for discussing your ideas. Please continue to use the board to post your messages and any queries you have.

The main website is updated with new material as it becomes available. Recently we have added:

1. Correspondence with Jim Lamb, IBM Director
2. More detail about the Barclays case.
3. Clippings from Private Eye (the website got a mention!)
4. A South Africa section describing the situation there

You should be aware that the Website is open to the public and anyone, including IBM itself, the Press, Members of Parliament, etc. may view it. We are therefore unable to publish sensitive or confidential information on the site - we are sure you will understand this.

WRITE TO YOUR MP

If you are concerned about pensions legislation then you should write to your MP (if you do, you may refer them to the website for the details). To find out who your MP is visit:

• http://www.parliament.uk/commons/lib/alcm.htm
• http://www.libdems.org.uk/
• http://www.labour.org.uk/
• http://www.conservative-party.org.uk/

KEEPING US INFORMED

Finally - remember that if you change your email address, do let us know via the Registration Form on the website. We do not want to lose contact with you!

AND LASTLY

We would like to wish you a "PROSPEROUS NEW YEAR"
(but this will probably depend on the actions of IBM and the Trustees!!!).

Mike Eacott (Membership Secretary for the C-Planners' Group)

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