黑洞社区

Beneficiaries of Halcrow鈥檚 pension scheme advised by the man who acted for Mirror Group pensioners in the Maxwell pension scandal are set to sue parent company CH2M, after it confirmed plans to slash Halcrow pensioners鈥� benefits.

Halcrow, owned by CH2M, wrote to pensioners two weeks ago outlining a new scheme, giving them a 2.5% boost to their savings but cutting their annual increases from the current level of 5% to CPI-indexed inflation, which currently stands at 0.3%.

If pensioners reject the offer or do not reply by 5 August, their pensions will be moved to the Pension Protection Fund, where retirement age pensioners would receive full payments but no increases, while those not of retirement age would take a 10% cut.

In response to the offer, the Halcrow Pensioners Association (HPA) wrote to CH2M鈥檚 European human resources director Sam Hannis to argue the deadline left them 鈥渇ar too little time鈥� to make a 鈥渓ife-changing decision鈥�.

Speaking to 黑洞社区, the HPA鈥檚 Edward Evans said the group 鈥� advised by Maxwell lawyer Martin Jenkins 鈥� is 鈥済etting our act together鈥� to take legal action against CH2M.

Commenting on the pension offer, he claimed: 鈥淚t鈥檚 just kicking the can down the road so in five years CH2M are going to say 鈥榥o we can鈥檛 afford it now, it will have to go into the PPF.鈥欌��

Evans also called on the Pensions Regulator to intervene and review the case.

In response, a spokesperson for the Pensions Regulator said: 鈥淲e understand the concerns of the Halcrow Pensioners Association and have received a letter from them, to which we will reply shortly.鈥�

A CH2M spokesperson said: 鈥淗alcrow and the Halcrow Pension Scheme Trustees have worked closely together to agree a sustainable solution that will protect members benefits and enable Halcrow to secure a stable financial position.鈥�