Members Update April 2024

Hello everyone, 

Well, those of us who have received their letters from HPE will be disappointed,  but probably not surprised to find that there will be no discretionary increase to  pre 1997 pension element this year! 

We believe that we can achieve our goal. In recent weeks, our campaign has  changed gears. More people are getting involved and that should increase our  chance of success if we can stay coordinated and focused. 

We are re-assessing our position and approach and will share further information  with you once we have clarified our thinking and ideas on how you can help. 

This is a difficult and complex issue; we have several moving parts/interventions  in motion, and we need to see how these evolve as part of determining our next  steps. 

There is some positive news to report since our last update and a request for  your support 

Influencing the Pensions Select Committee 

The Work and Pensions Committee has concluded its consultation on pension  matters and submitted their report to the DWP and the Pensions Regulator.  David Carson submitted evidence and represented our views on the treatment of  pre 1997 pensions, outlining the need for a Code of Ethical Practice, requiring 

company and Trustees to collaborate in developing policy and strategy for  discretionary benefits. 

Their recommendations included our request that the government carry out  research into those companies that have consistently not given discretionary  increases over many years. The final report from the Pensions Select Committee  can be viewed at the link below. 

Forming connections with other pension action groups 

To increase the impact of our evidence submitted to the Select Committee, we  formed a connection with members of other pension campaign groups: Amex,  3M, and Wood Group. We think this collective effort increased our influence. 

Our joint evidence to the Select Committee included the fact that no one, the  government nor the pension Regulator, knows the true scale of the problem and  how many large corporations having not been giving increases over many years.  

Recent media coverage is now exposing the scale of the issue and some of the 

companies involved. This is a positive development and a factor in future  strategy and tactics that we need to build on. 

Increasing media publicity 

The Times and Sunday Times have picked up on the issue and HPE, along with  AMEX, BP, 3M, Wood Group/Foster Wheeler, KPMG, Pfizer, Goldman Sachs, have  featured in recent articles. 

It was after the initial articles by The Times on BP, ourselves with Amex, 3M, and  Wood Group, that likely led to other pensioners within other companies approaching the Times, resulting in about 5 articles since January.  

Other companies being identified is a breakthrough, the opportunity for us to  connect, learn from each other, add weight to our cause, and work together for  greater political exposure, influence, and impact 

We have since gained further exposure via other media articles on the internet  and newspapers and are working to generate interest with other media to bring  the issue to a wider audience. Recent media articles can be viewed at the link  below. 

Some members are also now actively engaged in a social media campaign using  Linkedin – and their strategy is to highlight the UK pre-97 situation whenever  the company or senior executives put out communications promoting the virtues  and accolades of HPE. 

“Shareholder activism” 

Patricia Kennedy, a former Ayr based employee, has been collaborating with the  team and using her change management expertise and contacts to create new  momentum. She has written to Patricia Russo, HPE’s corporate Chairman,  appealing for her intervention and, as a shareholder, submitted a question to the  HPE annual shareholders meeting held on April 10^th. 

The communication to Russo, shareholder meeting question and supporting  endorsements can be viewed at the link below. 

The company are obligated to publish their answers to all shareholder questions,  and we are monitoring their website daily to review their response which will  likely have a strong influence on our next phase strategy and tactics in engaging  with both the company and Trustee. 

We have another request for your help 

In the meantime, we have an action request where you can help strengthen  political influence. 

1 Regarding the Pensions Committee, we would like you to bring MP’s 

attention to the Committee’s report, particularly the sections on Discretionary  Increases (78-83), Decision-making (84-89), Conclusions and recommendations  (9 in particular), which recommends that the DWP and Regulator look closely at  the treatment of pre 1997 pensioners. 

2 An Early Day Motion has been launched in Parliament, which brings the  Government’s attention to issues that are not currently scheduled to be debated  in the House. However, to gain any traction, we need up to 100 MPs to sign up. Link to the Early Day Motion: Pre-1997 Pensions Early Day Motion 

We would like and strongly urge you to send a short message to your MP explaining our plight regarding pre 1997 discretionary payments and ask your  MP to: 

1. Write to Pensions Minister Paul Maynard, copying The Pensions Regulator  Chief Executive Nausicaa Delfas, expressing support for the Work and  Pensions Select Committee recommendations in their recent Defined  benefit pensions report, and that the Pensions Regulator (TPR) conduct  research into the extent of the problem faced by scheme members with  pre-1997 rights. 

Please note – there are various references to HPPA work in the committee  report that your MP can refer to as supporting evidence. 

2. Sign the Early Day Motion 

Thanks for your ongoing support. 

We are a small team, and this task is bigger than our capability. We need your  help. 

You can help by sending us your ideas and getting involved. Do not hesitate in  letting us know what you think. 

LINK TO VIEW SUPPORTING MATERIALS MENTIONED ABOVE.

Best regards 

Alan Evans and the HPPA team