Not seen anything, It’s been some time since there was any feedback on pensions.

Cheers.

John.

Hi,

Nothing planned on any update soon.
Please see the subject ISC update in the Chester Reunion tab.
There is a discussion on the subject at each Reunion AGM.

Regards

Daniel

Hi,
Any news on pension upgrade in the near future. The last upgrade was about 10 years ago.

rgds,
george daenuwy

Cant see anything happening anytime soon due to COVID,Stock Market and Market Share and confidence?

Don’t think that you will ever see anything happening.

No increase when the company was booming – excuse – stock market is down

No increase when stock market is booming – excuse – business cannot support it

I think that the management have forgotten years ago that a great proportion of the money in the Pension is actually the retirees own contributions.

Where is the investment report , where is the analysis of performance ? where is there any real detail at all similar to a normal public company pension scheme?

Incredible 1 page presentation of the ISPPO at the AGM.

Presents the funding ratios etc , explains it is run by 3rd party and then goes on to say that discretio0nary reports will not be available ? ( I am assuming Discretionary means the normal reports made by any credible pension provider )

The numbers presented must be from the regular reports that any 3rd party running a pension fund would be required to produce on a regular basis ( if it were within a regulated jurisdiction it would be by law) . Those reports should be made available to members and we should know who is actually managing the funds. Cost is not the issue ,the existing reports can be e-mailed or put on a webpage.

The management / admin of the ISPP has always been something of a black box. Why?

On page 87 of the 2021 AGM ppt Alliance Schlumberger from Nov 9 is an answer to the question of ISPP updates, which says that there will potentially be NO future pension updates !?!?
Quite disturbing news during times of increasing inflation.
I have a hard time to believe that this is it. No future updates, increases, nothing …… ??
Any thoughts, additional information or comments?

Hi, I was disturbed too about that slide.
The next presentation by SLB Management was talking about a bright future for Oil and Gas and for Schlumberger . Even more disturbing……
It seems that we are a financial burden to the company.
Fully agree that there are no pension increases when times are bad. Not adjusting pensions when profits are good is not an ethical at all. We have all together grown this company. Every civilized gouverment is adjusting pensions against inflation.

1 dollar of January 2011 (approximate date of the last upgrade) represents 1.36 USD today. While pensions cannot keep up with inflation with safe investments, they should not be 36% behind after 13 years.

I agree 100%. The adjustments are long overdue

I agree 100%. The adjustments are long overdue!