Newsletter No. 40

 HALCROW PENSIONERS ASSOCIATION 

 Newsletter No. 40 : March 2020

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 2020 Annual General Meeting
In accordance with HPA's constitution, the 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 2020 AGM will be held in the HPA forum between 18th and 26th April. The proposed schedule, which has been based on the pace of previous AGMs, for the meeting is:

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 2020 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. Please attend: There's zero risk of catching Covid-19!

2020 Annual HPA Subscription
The 2019 AGM voted in favour of continuing the £10 annual subscription and payments are now due (if not already paid). You may be wondering if there is a long-term need for HPA but, with the recent change in company ownership and pension scheme sponsor we need to remain vigilant and, if necessary, in a position to take action. For example, the HPS2 trustee board may need encouragement to implement the Hampshire vs PPF court decision and ensure that the “better than PPF promise” made in the offer to HPS members in 2016 is honoured. There are also changes in pension legislation under consideration and major financial uncertainties ahead.

The HPA committee therefore asks that members continue to support HPA. The HPA treasurer looks forward to receiving your subscriptions for 2020 (payment methods are here) but the treasurer much prefers bank transfers as Paypal incurs a service charge. Please remember to email the treasurer when you pay your subscription so that funds received can be easily identified.

Burderop Park - The End is slightly delayed
Halcrow staff working in Burderop Park have been busy trying to prepare to move out by the end of March but they have recently been advised that Jacobs have negotiated an extension of the lease until 31st July 2020 which eases the pressure. We understand that the majority of those affected would prefer to be based in Bristol, not Winnersh. Several different relocation packages are on offer. In addition, it is proposed to offer a free daily bus service but those who opt for this receiving no other compensation. To add to the current hassles, Jacobs has just changed the telephone system and everyone's phone numbers!

Presentation to the Occupational Pensioners’ Alliance (OPA)
A member of the HPA committee attended the Occupational Pensioners Association (OPA) regional meeting at Sunbury on 12 March. There was a very interesting presentation from the Chair of one of British Airways Pension Scheme membership associations – not dissimilar to HPA (he was not a Scheme Trustee). His focus was on the original scheme known as APS (Airways Pension Scheme) that was established in 1948 very much as a typical state sector DB scheme of the time that benefitted from generous inflation protection. His presentation walked us through its history to date culminating in an extended High/Supreme Court case (2014 to 2019) between the Trustees and the company arguing about the benefits that should continue to be payable. Of note is that BA were directed by a Court ruling to fund all Trustee costs and indemnities. Read here for a more detailed report of the presentation.

Halcrow Group Ltd 2018 Accounts
The 2018 accounts for HGL were finally posted at Companies House on 13th March 2020. A summary of the key points gleaned from this document will be included in the next HPA newsletter. 

The Halcrow Pensions Team
The Halcrow Pensions Team posted a notice on their website on 17th March warning that Covid-19 may adversely impact on their ability to respond to queries. It was stressed that any correspondence is best sent by email as there may be a delay in receiving the normal mail (presumably due to staff encouraged to work at home). The notice also provides contact phone numbers which rely on the individual staff being on-line.

The Future of HPA
The need for HPA continues and among the possible ongoing tasks to look after HPA members' interests are:
1.    To keep HPA members informed about HPS2 and other pension-related matters.
2.    To closely monitor HPS2, the HPS2 Trustee and Jacobs UK (the scheme sponsoring company) to ensure that adequate contributions are made to the pension schemes. This could soon become a significant risk as the ongoing HPS2 triennial review could identify the need for increased company contributions.
3.    To examine or comment on proposals for changes to pension-related laws or regulations.
4.    Take opportunities to press for better supervision of pension schemes and their sponsoring companies.
5.    To follow the potential changes in pension scheme rules arising from the Hampshire vs PPF and Bauer court decisions.

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.