Feeds

IBM UK mulls pension cutbacks

The C-plan diet

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

IBM is back in hot water over pensions. Investments and Pensions Europe revealed that IBM is "considering options - including wind-up of the C-plan section of its pension scheme.

The C-plan section, which closed to new joiners in 1997, is a contributory scheme which pays out on a defined benefit / final salary basis.

Comments on an IBM staff pension website pointed to "reasonably well-sourced" hints that IBM UK is looking at the future of the C-plan scheme. Scheme trustee Brian Marks, speaking personally, said these options included wind-up of the scheme. Another possibility was to force IBM employees to change their C-plan benefits into a deferred pension.

David Newman, UK pensions manager for IBM, was less impressed with the story. He told Investment and Pensions Europe: "I'm not interested in talking to you, I'm afraid." He did not reply to emails.

More on this story here.

IBM has had problems with its pension scheme both here and in the US. Most recently, a US court told the company to reimburse 140,000 employees and ex-employees whose benefits had been underpaid. ®

Related stories

Court rules for IBM pensioners
IBM pension plan comes under fire
IBM attacked in staff web uprising

Secure remote control for conventional and virtual desktops

More from The Register

next story
BBC: We're going to slip CODING into kids' TV
Pureed-carrot-in-ice cream C++ surprise
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Twitter: La la la, we have not heard of any NUDE JLaw, Upton SELFIES
If there are any on our site it is not our fault as we are not a PUBLISHER
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.