HP Pension Association
Newsletter
Volume 2, Newsletter 4 June 2015
In this late Spring (early summer?) newsletter, we have gathered together various pieces of news which we believe will be of interest to our members:
HP Pension Plan Membership

At the end of March 2015, the membership was:
                            Digital          HP          BoI (Bank of Ireland)
Active                    432         450            17
Deferred             6519       2657           60
Pensioners        3541       1157           16

HPPA has 2,600 members

HP Second Quarter Earnings and split progress

The results give investors a progress report on Ms. Whitman’s plan to split HP into two companies: One will focus on enterprise-computing technologies like servers called Hewlett Packard Enterprise, and the other will sell products like personal computers and printers called HP Inc. The separation is set to happen at the end of October.


"I'm pleased with where we ended the quarter, the continued success of our turnaround, and the progress we're making on separation," said Meg Whitman, chairman, president and chief executive officer, HP. "Despite some tough challenges, we executed well across many parts of our portfolio, sustained our commitment to innovation, and delivered the results we said we would. HP is becoming stronger as we head into the second half of our fiscal year and separation in November."
See further details and news on the separation here 


We still have no idea which company will be the “owner” of the HP Plan.
Digital Pensioner Matters

 HPPA received a request for a pension update to be given at the recent Dexodus AGM - Dexodus is the large ex-Digital fellowship group.

John Gray gave a very entertaining and informative talk, focusing mainly on the Nigel Bains Ombudsman Determination, and you can find a video of his talk here – it is worth a watch. In the talk, he mentions a Merger Deed from 2006, and you can read up on that here.
Pension Increase Exchange (PIE)

This was a program from HP, offering members an immediate increase in pension in exchange for future increases. We do not know how many people took up the offer, but we know it was not a large number. HPPA set up a forum where members could exchange views.

Legal Matters

Following the Nigel Bains Determination, several legal firms issued reviews – you can read one from Slaughter & May here. Since those reviews were issued, Nigel Bains has decided to seek a full opinion from counsel regarding what steps he can now take. As a retired solicitor himself, he has prepared a brief for counsel, and HPPA has provided him with backup documentation from the archive. Dexodus has kindly agreed to fund the expenses of this opinion from counsel. At this stage, there are no expectations of what will happen when the opinion is received.

Trustee and Administration Survey

One of HPPA’s stated objectives is to build a strong and 

productive relationship with the Pension Plan Trustees. One way we can help do that, is to provide quality feedback on how

HPPA members feel about the service being provided. During next couple of weeks, therefore, we will be sending out a survey, and we would be pleased if you could find the time to take part.

HP Sports and Social Club

HP are now offering retirees access to the UK Employee  Discount portal run by the sports and social club.

This is service run for HP by Xexec. Some of you have already registered for this but if not and you are interested in this please email HP.SSC@hp.com saying you are a retiree and asking for your email address to be registered.

HPPA in the future

We made this request in the last newsletter and have not had a very good response. If you can help please get in touch. It is five years since we formed HPPA and some of the work being done by the founders needs taking over by dynamic younger (at heart) folk. If you are interested in helping out we need an account manager type bod to take forward the relationship with HP in the UK and USA and somebody to refresh the website preferably using a tool such as Wordpress.
If you are interested in these highly rewarding positions please contact Scott, Ian or Steve ( help@hppa.org.uk ). And remember because they are voluntary you do not even have to deal with HMRC!

And Finally
Interesting thought
Uber, the world’s largest taxi company, owns no vehicles.
Facebook, the world’s most popular media owner, creates no content.
Alibaba, the most valuable retailer, has no inventory.
And Airbnb, the world’s largest accommodation provider, owns no real estate.
Something interesting is happening.
Tom Goodwin, senior vice president of strategy and innovation at Havas Media.



Please contact other Retirees/Leavers if you think they may be interested in Joining HPPA

If you want to change your email address, please look at the bottom of any mail from us, and you will see a link to "unsubscribe and manage" - change your address using that link, rather than email one of us!

Once again, all feedback to steve.spillane@hppa.org.uk    or   ian.young@hppa.org.uk

Best Regards,

HP Pension Association


IN THIS ISSUE
  • HP Pension Plan Membership
  • HP Second Quarter Earnings and split progress.
  • Digital Pension Matters 
  • PIE Pension Increase Exchange
  • Legal Matters
  • Trustee and Administration Survey
  • HP Sports and Social Club
  • HPPA in the future
  • HP 7 G2 tablet
HP 7 G2 tablet

It’s a super-portable Android tablet that’s all set to connect with HP DataPass right out-of-the- box. No credit card, no strings attached. The Intel Atom- powered HP 7 Plus, is a talented tablet that’s so easy to love at a price that's hard to beat.

Amazing value currently available to HPPA members at £79including VAT and free delivery. Go to here for access to the HP Employee store - in case you have forgotten the username is hpway and the password toplay

HPPA STEERING  GROUP

Ian, Scott and Steve continue to work for the benefit of retirees and members of the HP pension schemes and if you would like to help or have any ideas on what we should be doing please contact Scott here.

CONTACT DETAILS

The username for www.hppa.org.uk is   hpway  and the password is toplay  

HP Pension Association
info@hppa.org.uk

Date Phenomenon August 2015

 

Memory Lane

For those of you interested in what is happening in the company and hearing about old coleages there are some very good US resources at the HP Retiree site here or the HP Alumni site here or Digital alumni here.

 

JOKE
A man flying in a hot air balloon suddenly realizes he’s lost. He reduces height and spots a man down below. He lowers the balloon further and shouts to get directions, "Excuse me, can you tell me where I am?"

The man below says: "Yes. You're in a hot air balloon, hovering 30 feet above this field."

"You must work in Information Technology," says the balloonist.

"I do" replies the man. "How did you know?"

"Well," says the balloonist, "everything you have told me is technically correct, but It's of no use to anyone."

The man below replies, "You must work in management."

"I do," replies the balloonist, "But how'd you know?"*

"Well", says the man, "you don’t know where you are or where you’re going, but you expect me to be able to help. You’re in the same position you were before we met, but now it’s my fault."

www.hppa.org.uk


.