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Re: Pension Statements - IBM interpretation of first court judgement.
Posted by: dave (IP Logged)
Date: 16 February 2014 08:54AM

Dave certainly is still alive!

Any pension trust director has to adhere to the objectives of the trust (as set out in the deeds and articles of association). These should prevent the interests of the employer being put before the interests of the members (both employees and retirees). They also require conflicted directors to abstain from voting on certain issues. But (and it's a big but) in the case of the IBM trust, because the rules give IBM the power to do things unilaterally and some of those things are certainly not in the interests of members, IBM has the power to influence the decisions the trustees make. Put another way, given the choice between accepting what IBM wants or risking IBM doing something nasty, the trustee has traditionally done the former.

It's worth pointing out that Jim Lamb was a senior IBM executive on the trustee board in 1995-6, when the trustee had no member-elected directors. That board was responsible for the 'dirty trick' of using the C Plan surplus to pay IBM's contributions to the M Plan. And during the period when Brian Marks and I were on the board, Jim (who by then had retired and was an IBM-appointee) and Stephen Wilson (who was IBM UK's Finance Director) were usually very keen on doing what IBM wanted (rather than rock the boat).

In my view there's absolutely no mileage in going to the Ombudsman or Regulator about the composition of the board unless you have strong evidence of irregularities. Reading the Trustee's post about the issue at hand, I see nothing wrong in what they are doing. They have registered that they don't agree with IBM's opinion and that the matter will be properly resolved by the outcome of the court case.



Subject Views Written By Posted
  Pension Statements - IBM interpretation of first court judgement. 3307 Eddy 07 February 2014 10:39PM
  Re: Pension Statements - A strange CPI Issue 1535 ImGone 08 February 2014 11:35AM
  Re: Pension Statements - A strange CPI Issue 1425 Mad Dog 09 February 2014 05:52PM
  Re: Pension Statements - A strange CPI Issue 1688 Eddy 09 February 2014 08:26PM
  Re: Pension Statements - A strange CPI Issue 1313 Mad Dog 10 February 2014 12:07AM
  Re: Pension Statements - A strange CPI Issue 1397 Eddy 10 February 2014 07:47AM
  Re: Pension Statements - A strange CPI Issue 1962 CeeGee 11 February 2014 04:13PM
  Re: Pension Statements - A strange CPI Issue 1317 Eddy 10 February 2014 04:16PM
  Re: Pension Statements - A strange CPI Issue 1324 Mad Dog 10 February 2014 05:44PM
  Re: Pension Statements - A strange CPI Issue 1300 Eddy 11 February 2014 08:43AM
  Re: Pension Statements - A strange CPI Issue 1221 Mad Dog 11 February 2014 06:52PM
  Re: Pension Statements - A strange CPI Issue 1196 Eddy 11 February 2014 05:57PM
  Re: Pension Statements - A strange CPI Issue 1163 Mad Dog 11 February 2014 06:44PM
  Re: Pension Statements - A strange CPI Issue 1184 Ace Buzz 11 February 2014 07:14PM
  Re: Pension Statements - A strange CPI Issue 1293 Mad Dog 11 February 2014 07:34PM
  Re: Pension Statements - A strange CPI Issue 1254 CeeGee 11 February 2014 09:49PM
  Re: Pension Statements - A strange CPI Issue 1382 Ace Buzz 12 February 2014 06:21AM
  Re: Pension Statements - A strange CPI Issue 1360 CeeGee 12 February 2014 03:06PM
  Re: Pension Statements - A strange CPI Issue 1233 CeeGee 24 February 2014 08:05AM
  Re: Pension Statements - IBM sidesteps first court judgement. 1495 Eddy 11 February 2014 10:15PM
  Re: Pension Statements - IBM sidesteps first court judgement. 1440 thoms 12 February 2014 07:22AM
  Re: Pension Statements - IBM sidesteps first court judgement. 1269 ImGone 12 February 2014 05:01PM
  Re: Pension Statements - IBM sidesteps first court judgement. 1285 Mad Dog 12 February 2014 05:21PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1315 Eddy 12 February 2014 05:40PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1246 Mad Dog 12 February 2014 05:48PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1247 Eddy 12 February 2014 05:59PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1225 jerry 12 February 2014 08:56PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1268 Slide Rule 12 February 2014 09:13PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1237 Mad Dog 12 February 2014 09:47PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1478 Anonymous User 13 February 2014 09:21AM
  Re: Pension Statements - IBM interpretation of first court judgement. 1223 Slide Rule 13 February 2014 10:32AM
  Re: Pension Statements - IBM interpretation of first court judgement. 1265 scunnered 13 February 2014 10:40AM
  Re: Pension Statements - IBM interpretation of first court judgement. 1283 Anonymous User 13 February 2014 11:11AM
  Re: Pension Statements - IBM interpretation of first court judgement. 1219 Mad Dog 14 February 2014 04:09PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1323 GrumpyGuts 13 February 2014 08:15AM
  Re: Pension Statements - IBM interpretation of first court judgement. 1502 Mad Dog 13 February 2014 09:33AM
  Re: Pension Statements - IBM interpretation of first court judgement. 1263 GrumpyGuts 13 February 2014 09:39AM
  Re: Pension Statements - IBM interpretation of first court judgement. 1474 Mad Dog 13 February 2014 10:53AM
  Re: Pension Statements - IBM interpretation of first court judgement. 1331 blaster 14 February 2014 03:19PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1313 CeeGee 14 February 2014 07:23PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1197 scunnered 17 February 2014 03:08PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1224 growingold 14 February 2014 08:57PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1295 Eddy 15 February 2014 07:51AM
  Re: Pension Statements - IBM interpretation of first court judgement. 1275 Ace Buzz 15 February 2014 08:51AM
  Re: Pension Statements - IBM interpretation of first court judgement. 1244 ImGone 15 February 2014 12:07PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1204 Mike Eacott 15 February 2014 11:44AM
  Re: Pension Statements - IBM interpretation of first court judgement. 1238 dave 16 February 2014 08:54AM
  Re: Pension Statements - IBM interpretation of first court judgement. 1280 Mad Dog 16 February 2014 09:30AM
  Re: Pension Statements - IBM interpretation of first court judgement. 1271 dave 16 February 2014 10:55AM
  Re: Pension Statements - IBM interpretation of first court judgement. 1219 goner 16 February 2014 06:59PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1318 dave 16 February 2014 10:45PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1296 Ace Buzz 17 February 2014 07:21AM
  Re: Pension Statements - IBM interpretation of first court judgement. 1222 goner 17 February 2014 05:10PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1309 dave 17 February 2014 09:54PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1311 ImGone 18 February 2014 11:34AM
  Re: Pension Statements - IBM interpretation of first court judgement. 1285 itsnotthe companyIjoined 18 February 2014 12:14PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1326 Mike Eacott 18 February 2014 12:55PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1294 JACK05 18 February 2014 02:55PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1341 Anonymous User 18 February 2014 05:14PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1415 ImGone 19 February 2014 02:05PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1348 dave 18 February 2014 03:32PM
  Re: Pension Statements - IBM interpretation of first court judgement. 1334 Eddy 24 February 2014 10:55AM


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