I also do not receive these statements any more so my observations are based on what I believe to be the current legislation concerning underpinning, or statutory revaluation as the professionals refer to it.
As I understand it an employer holding a deferred pension for either an ex employee or a current employee no longer a member of the scheme has no choice but to comply with the law on revaluation from the date that the pension became deferred.

I suppose that begs the question that an individual might ask either IBM or the Pensions Trust, or both, which is; when did my pension become legally deferred?
When Waltz came in I seem to remember something about "it isn't really a deferred pension if you don't leave and that it's about changing plans within the same scheme since there is only one "scheme" in IBM?

That may be the loophole IBM are exploiting and, if true, an indication of the depths to which they appear to have sunk. In any event I'd say it's worth asking the question.

Good luck!



Edited 2 time(s). Last edit at 12 February 2014 07:28AM by thoms.