A MEETING of Rank Xerox pensioners has been called to discuss increases which are being described as 'farcical' in the light of huge increases in costs like council tax.
The Xerox Pensioners' Steering Committee, formed to look after members' interests, says the company is claiming it can only give rises of 2-3 percent in line with the Retail Price Index (RPI) because this is in the Pension Trust rules.
In an open letter to pensioners the steering committee says: "We feel we have been misled as this rule was made by the company, without opportunity for discussion or objection.
"With council tax increases rising by 6.8 per cent and water rates by 10 per cent and other similar increases, to expect the Rank Xerox pensioners to make do with RPI increases around 2 per cent to 3 per cent is farcical.
"The assets of the Rank Xerox Pension Scheme have grown phenomenally and continue to do so. The scheme is worth 1.3 billion pounds. We are told the surplus is now £92 million and was £124 million."
The letter adds: "We feel the pensioners who have contributed to the scheme should and must be the ones that are looked after – after all, it is their money!
"So why not a change in rules to give a reasonable increase in the same line as wage increases?"
The letter calls on pensioners and interested parties to attend the meeting at the Xerox Club House at 7pm on Wednesday, April 21 to discuss the level of pension increases.
Nobody from the company was available for comment at the time of going to press.