Newsletter No. 11
HALCROW PENSIONERS ASSOCIATION
Newsletter No 11 : April 2015
You have been sent this newsletter because you may be a member of the Halcrow Pension Scheme. If you are not a member then please use the unsubscribe link at the bottom of this email to remove your name from the mailing list or email the webmaster at halcrowpensioners dot org dot uk to remove your name.
2015 Annual General Meeting
As advised in the previous newsletter, the 2015 AGM will be a virtual AGM held in the HPA forum between 12th and 20th April. The proposed schedule for the meeting is:
| Stage | Date |
|---|---|
| Commencement of AGM | 12 April |
| Discussion | 12 to 17 April |
| Elections | 18 to 20 April |
The agenda is here and the minutes of the 2014 AGM are here. Nominations or proposed items to be discussed at the AGM can be posted in the 2015 AGM forum to provide opportunity for others to view and, if appropriate, comment on them. Alternatively, please email them to secretary at halcrowpensioners dot org dot uk. The AGM is the opportunity for the members to provide their views on the direction of HPA.
2015 Subscriptions
For those who haven't already paid, the HPA treasurer looks forward to receiving your 2015 subscription. It remains at £10. Payment by bank transfer is preferred because there are no transaction charges although you can also pay by credit card through our PayPal portal. Details of the payment methods are here. Access to the 2015 will be restricted to those who have paid their 2015 subscription. If you have paid your subscription then please check that you have access to the forum. If you haven't registered then please do so or if you have forgotten your forum registration details then please email the webmaster.
CH2M Hill Financial Position
HPA is aware that CH2M Hill's financial position has deteriorated in the past year (see the share price history). The company is proposing to allow external ownership of shares and a take-over by another company in better financial health cannot be discounted. It has been speculated that this may be one factor behind the company's delaying of the 2011 HPS triennial review in order to avoid a more onerous contributions plan becoming part of the liabilities to be revealed to potential investors.
Pension Protection Fund
HPS members often ask what would happen if HPS is transferred to the Pension Protection Fund. The Daily Telegraph recently published an informative article about the PPF which makes interesting reading. We have also prepared a simple spreadsheet so that individual scheme members can see the impact of a transfer of HPS to the PPF assuming that the present PPF rules are unchanged. We also make periodic assessments of the health of the PPF. The latest assessment is here.