Halcrow Pensioners Association

Newsletter No. 35


 Newsletter No. 35 : March 2019

This is a newsletter of the Halcrow Pensioners Association. More details of HPA's objectives, organisation and its activities are here. You have been sent this newsletter because you may be a member of the Halcrow Pension Scheme or its successor, HPS2 or be a former member of HPS who has transferred to the PPF. Membership of HPA is open to all interested HPS / HPS2 members and currently costs £10/year.  If you do not wish to receive the HPA newsletters then please email the webmaster to remove your name from the mailing list.

Notice of 2019 Annual General Meeting
In accordance with HPA's constitution, an Annual General Meeting shall take place in April. It is proposed to adopt the format used previously of a virtual meeting in a sub-forum of the HPA forum to which only paid-up members of HPA will be given access. The meeting will be the member's annual opportunity to contribute to the direction and operation of HPA. The 2019 AGM will be held in the HPA forum between 23rd and 30th April. The proposed schedule, which has been based on the pace of previous AGMs, for the meeting is:

Stage Date
Commencement of AGM  23 - 24 April
Discussion  25 - 27 April
Voting  28 - 30 April

The agenda is here and links to the other documents will be posted in the HPA forum prior to the commencement of the AGM. Nominations or proposed items to be discussed at the AGM can be posted in the 2019 AGM forum to provide opportunity for others to view and, if appropriate, comment on them. Alternatively, please email them (also any apologies) to the secretary. An updated agenda will be issued before the meeting. The AGM is the opportunity for the members to provide their views on the direction and strategy of HPA.

2019 Subscriptions
For those who haven't already paid, the HPA treasurer looks forward to receiving your 2019 subscription. It remains at £10 as agreed at the 2018 AGM. 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. Please remember to email the treasurer when you pay your subscription so that funds received can be easily identified.

Access to the 2019 AGM will be restricted to those who have paid their 2019 subscription. If you have paid your subscription then please check that you have access to the forum. If you haven't registered for the forum then please do so. If you cannot access the forum or have forgotten your forum registration details then please email the webmaster for assistance.

Volunteers for HPA Committee
The HPA committee is very keen to add new members, particularly those who are deferred pensioner scheme members. If you are interested to help or would like to improve your understanding of pensions-related issues then please contact the HPA secretary who can also provide additional information about the committee activities. Distance is not a problem as most of the committee discussion takes place using the internet.

2017 Halcrow Group Accounts
The 2017 Halcrow Group Accounts were received at Companies House on 7th March 2019 - almost 6 months after the due date. Presumably the delay reflects challenges being encountered by Jacobs in understanding the complex CH2M corporate structure and internal accounting arrangements. The accounts show that HGL continues to lose money. However, at the same time the highest paid director was paid £510,000!

Companies House was also notified on 26th March 2019 that the business address of HGL has changed from Elms House to Cottons Centre, Cottons Lane, London, United Kingdom, SE1 2QG.

The Future of HPA
The need for HPA continues and among the possible ongoing tasks are:
1.    To closely monitor HPS2 and watch out for Jacobs trying to reduce pensions further or claim back contributions on the grounds of the scheme being over-funded (a few years of higher inflation could create this situation).
2.    To examine or comment on proposals for changes to pension-related laws or regulations.
3.    Take opportunities to press for better supervision of pension schemes and their sponsoring companies.

4.    To follow the potential changes in pension scheme rules arising from the Hampshire vs PPF court decision.

However, this will be open to discussion at the AGM.

Previous Newsletters
If you haven't been with HPA from the start or want to remind yourself of previous events then you can browse through the previous newsletters for which there is a full list here.