This years `gathering with a pensions theme’ for TVC life members and ICL Group Pensioners was held on Wednesday 16th Nov at the TVC at BRA01.

Rod Scott, one of our pensioner representatives, gave a short talk, which included:

• The UK pensions scene, and the forthcoming pensions act as relevant for pensioners
• More and better communication in the last year – particularly by the `Pensions Insight’ publication (Autumn issue just out) – and the detailed Plan reports and IPMC minutes on the pensioners website (see the members area)
• Plan performance and increases – looks like the Dec RPI might be around 3% - and Rod aims to keep asking for consideration of some discretionary increase for older pensioners - although recognises that the fund deficit might have to be cleared first
• The role of the trustees - their historic role, and their formal duties. Government and regulatory changes are tightening up on the formal duties of Trustees – now much stricter and with trustee supervision by an independent pensions’ regulator
• For the ICL plan – the figures in the latest `Insight’ show income exceeded expenditure. Plan performance shows an increase in fund value – but not clear that this is enough to keep up with increasing liabilities and the apparent longevity of ICL pensioners
• A plan valuation is due next year – and we will all be interested in its outcome.

This was followed by informal discussion – with Mike Stewart (a Plan Trustee) as well as Rod. 27 pensioners attended. All in a relaxed atmosphere – with plenty of food – more are welcome next year – make a note in your diary to look out for the date and attend.

Also note - Rod subsequently raised several points affecting pensioners at the IPMC meeting on 23rd November - and has provided more details - see new item in the `Pensioner Representative Topics' section in the members area - click here to view.