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skip navigation . ipig 2009 home page ipig forums (limited access) pension timeline ibm pensions trust the association of members of ibm uk pensions plans (amipp) useful links ibm pensions trust the association of members of ibm uk pensions plans (amipp) secured site user login username: * password: * request new password pension interest group 2009 - information portal welcome to www.ipig2009.org.uk - the website of the ibm pension interest group this website is access controlled for members of the ibm united kingdom ltd pension plans who have been severely impacted by changes to the pension plan announced by the company in july 2009. members of the press can contact the ibm pension interest group (ipig) by emailing [email protected] . previous stories of interest: stored here 1 august 2015 - ibm sees $250 million charge if u.k. pension appeal unsuccessful submitted by admin on sat, 01/08/2015 - 12:00 august 2015 ibm's good faith action bloomberg article - link sec filing - link extract from bloomber article: ibm appealed a ruling that it unfairly changed its u.k. pension plan -- a bid that if unsuccessful, could result in a one-time charge of about $250 million. if international business machines corp. loses, the company would also have to reverse the changes made to its u.k. defined benefit pension plan and pay benefit-related accruals, in addition to the one-time charge, ibm said tuesday in a filing . a decision on the appeal is not expected until at least 2016. 30 july 2015 - judges suing the uk government over........ pension changes! submitted by admin on thu, 30/07/2015 - 19:25 ibm's good faith action july 2015 judges are to challenge changes to their pension scheme which they say are discriminatory, writes clive coleman on the bbc news website. excerpt: "this is a story choking with irony. judges are supposed to adjudicate on age, sex and race discrimination, right? not claim it is happening to them. so, when nearly 200 of her majesty's judges accuse the government of all three forms of discrimination, something is very definitely amiss. when those same judges then decide to sue the lord chancellor and the ministry of justice, you know that relations between two powerful arms of the constitution, the executive and the judiciary, are far from cordial. so, why are they doing it? the answer lies in changes to the judicial pension - which the judges who are suing say will compromise the diversity of the bench." well worth reading the whole article- link 2 march 2015 - press and other comment on remedies hearing submitted by admin on mon, 02/03/2015 - 11:36 ibm's good faith action march 2015 articles referencing the remedies hearing judgement. press: pensions age the lawyer legal: clifford chance nabarro norton rose fulbright outer temple chambers pitmans (added 14/3/15) shoosmiths the register (added 14/3/15) 21 february 2015 - ibm letter to employees re court judgement submitted by admin on sun, 22/02/2015 - 16:14 february 2015 ibm's good faith action the attached was sent to all ibm uk employees on 20 february 2015. it was not marked confidential. i am writing to you to let you know that today the uk high court issued its remedies judgment associated with the 2014 court decision on ibm's pension plan changes. the remedies judgment is detailed and lengthy, and is not fully conclusive as there remain important unresolved issues on which the judge has invited additional submissions from the parties. as a result there is still uncertainty pending such resolution and any subsequent appeals. the judgment does recognise ibm's right to make changes to its pension plans. despite this, we believe that the court then misapplied the law in substituting its own views in place of the reasoned business decisions ibm made to protect the company and its employees during the height of the financial crisis. as you know, ibm is recognised around the world as a standard-bearer for integrity in all our dealings. we continue to believe that the changes we have made over the years are correct, and have balanced the best interests of our employees and our business. ibm respectfully disagrees with the high court's decision in restricting ibm’s exercise of its right to make changes to its pension plans and will seek leave to appeal the decision. we believe the court's remedies, if implemented, will jeopardise ibm’s competitiveness over time. our company has faced and will continue to see massive competitive changes in the it marketplace and we need to be in a position to consider market competitive pension plans. pending appeals, the ibm pensions trust has indicated that it intends to continue to administer the currently existing pension plans until the final order has been issued by the final court. ibm will comply with the final order of the court, and we will communicate with you at the appropriate time on any changes to the pension plans. we realise that this court proceeding has an effect on you and may create uncertainty in your retirement planning. i want to thank you for your continued understanding and patience as we work through this legal process. anne conroy director, human resources ibm uk & ireland 20 february 2015 - remedies judgement handed down submitted by admin on fri, 20/02/2015 - 14:30 february 2015 ibm's good faith action the judgement from last year's remedies hearing was due to be handed down this afternoon - 20 february 2015. the ibm pensions trust have indicated they will issue a statement once the judgement is released. we will post a further update once we have had time to study the judgement. updates: judgement ibm pension trust statement the ipig team 21 july 2014 - remedies hearing begins submitted by admin on mon, 21/07/2014 - 06:43 ibm's good faith action july 2014 the next round of the legal process begins in the high court today and is scheduled to last for 9 working days. there are two main parts to the hearing - to consider more arguments on the non pensionability agreements (npa) as requested by the judge, and to decide what remedies should be put in place for employees (and former employees) affected by ibm uk breaching its duty of good faith over changes it made to the company pension in 2009. we understand that the arguments in this hearing are at the level of defining what groups of employees and former employees should receive some form of remedy - not what that remedy is. ibm uk will of course be arguing that no remedies are due. the pension trust is taking the lead role in the remedies arguments for employees and former employees, not the representative beneficiaries. it is unlikely that we will post any updates during the hearing. the court is open to the public and should you wish to attend here are the details: high court, chancery division the rolls building 7 rolls building fetter lane london ec4a 1nl the court normally sits from 10:00 - 16:00 each day but it can vary. the ipig team. 18 june 2014 - business magazines question the eps roadmap strategy submitted by anonymous on wed, 18/06/2014 - 22:09 more business magazines are questioning the ibm strategy of eps roadmap. forbes: http://www.forbes.com/sites/stevedenning/2014/05/30/why-ibm-is-in-decline/ businessweek: http://www.businessweek.com/articles/2014-05-22/ibms-eps-target-unhelpful-amid-cloud-computing-challenges the ipig team 6 june 2014 - a new book "the decline and fall of ibm" submitted by admin on fri, 06/06/2014 - 14:45 june 2014 many journalists and analysts are now questioning the ibm strategy of a single minded focus on eps and the latest roadmap to it. we have seen, as shown in the high court case judgment, that the reason for the 2009 uk pension changes was not the reasons stated to employees, the consultation committee, the ibm uk board or even to members of parliament but the senior executives need to hit the eps target. even though the long term cost of closing the scheme would likely be more it was only that year that mattered, not the lon

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smartpensionsuk.co.uk
theregister.co.uk
amazon.co.uk
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amipp.org.uk

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