HAMPSHIRE MPs RAISE CONCERNS WITH IBM CHIEF EXEC (Eastleigh Liberal Democrats)

Eastleigh Liberal Democrats <enquiries@eastleighlibdems.org.uk>

HAMPSHIRE MPs RAISE CONCERNS WITH IBM CHIEF EXEC

October 21, 2009 12:07 PM

Hampshire Liberal Democrat MPs have today expressed disappointment and serious concern with IBM's proposed pension scheme changes.

During a meeting with IBM's UK Chief Executive Brendan Riley in London, Sandra Gidley, Chris Huhne and Mark Oaten told senior managers that IBM staff are extremely concerned over proposed changes to their pension and retirement plans.

Hampshire is home to a large IBM plant at Hursley which employs a number of people living in the Winchester, Romsey and Eastleigh constituencies many of whom have contacted their respective MPs to raise the issue.

Taking the issue forward a meeting with senior IBM staff was arranged during which it was explained to the MPs that IBM have carried out a wide consultation with staff and proceeded to make some changes to their proposals based on concerns raised.

Although a welcome step serious concerns still persist amongst IBM employees that there pension arrangements and retirement plans are being fundamentally altered.

Commenting on the meeting that he arranged Winchester MP Mark Oaten said:

"Although we had a constructive meeting with the chief executive I am still extremely concerned that some of my constituents will be badly hit by the changes IBM are making to pensions.

"While Brendan Riley has told us they have listened to concerns and made some improvements it's still the case that some employees over 55 will be negatively impacted by the changes."

Romsey MP, Sandra Gidley, added:

"IBM claim to have taken regard of all concerns that been raised and made some changes, but have done nothing to deal with the biggest area of complaint; that those in their early 50s feel they're being forced out of the company by swinging changes in early retirement plans."

Chris Huhne, MP for Eastleigh, said:

"Despite our meeting, I am not persuaded that IBM's circumstances justify the company riding roughshod over established pension practices and hitting my constituents plans for retirement.

"IBM has a lot more explaining to do."