Jan 2002 update:

Some MPs continue to take an interest in occupational pensions generally and in our situation in particular. Steve Webb MP writes:

I have had a number of helpful discussions with IBM pensioners that have helped to clarify for me some of the shortcomings of existing legislation. I hope that the all-party Select Committee on Work and Pensions will look into some of these issues, and I will also be seeking to raise them when pensions legislation is next before the House of Commons".

If you are writing to your MP, it will pay to mention Steve Webb. He is willing for you to say something like this to your MP:

"If you are concerned about the rights of occupational pensioners, you might want to contact Steve Webb MP who has offered to co-ordinate efforts on a cross-party basis to seek to amend pensions legislation better to reflect the concerns of pensioners."

Steve Webb has also asked Parliamentary Questions, not specific to IBM, which are of interest to us. In particular, one question may elucidate the government's intentions about whether the six-year lifetime of trustee election arrangements will be extended.

As at February 2001

We recently sent a letter to a group of MPs. This was not so much about the IBM affair but more about the general deterioration of confidence in pensions as a quality way of saving.

The responses make it clear that a number of MPs are now concerning themselves with this issue, and they do know about the growing disillusionment of pensioners.

Here are a few phrases from the recently received replies. They are from different MPs and deliberately not attributed.

With regard to using the political process to prevent companies stripping pension fund assets, I .... will encourage the issue to be considered for inclusion as party policy and in the Manifesto.

You will be aware that this Government has closed loopholes which were revealed after the enquiry into the Maxwell case. Even so, I think it is essential that the Minister is aware of the present situation.

I understand why people are frustrated by the transfer of funds from the older defined benefit pension scheme to the new one for current workers. People who have invested in an occupational pension scheme have a right to expect fair treatment and a decent income and they should not feel they are losing out unfairly to younger people.

You may also wish to read Sandra Gidley's views (Lib Dem, Romsey).

It is important to make MPs aware of the situation. If you live in an area where there are not many IBM retirees, please write to you MP. All it takes is a letter summarizing your feelings on the matter and, if you refer to this website, then this will to give the MP the opportunity to understand the detail.

If you have written to your MP and not already informed us, please send a note to the Webmaster.

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