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- This topic has 11 replies, 9 voices, and was last updated 3 years, 1 month ago by Rene Vermeer.
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2019-07-20 at 11:09 pm #3610Jose Silva AnavitateParticipant
Hello,
Is there any conversation ongoing regarding upgrading the pensions?Any comments will be greatly appreciated.
Thanks and all the best.José
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2019-08-06 at 7:31 pm #3850John EvansParticipant
Not seen anything, It’s been some time since there was any feedback on pensions.
Cheers.
John.
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2019-09-24 at 7:29 am #4192Daniel HenryParticipant
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
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2020-10-20 at 1:53 am #5403George DaenuwyParticipant
Hi,
Any news on pension upgrade in the near future. The last upgrade was about 10 years ago.rgds,
george daenuwy -
2020-10-20 at 10:12 am #5406John EvansParticipant
Cant see anything happening anytime soon due to COVID,Stock Market and Market Share and confidence?
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2020-11-10 at 4:42 pm #5439David BaillieParticipant
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?
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2021-03-15 at 1:26 pm #5815David BaillieParticipant
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?
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2021-11-16 at 9:14 am #6192Robert KroenerParticipant
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? -
2021-11-21 at 11:17 am #6200Peter LandmesserParticipant
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. -
2023-08-24 at 1:25 am #7559Charles IngoldParticipant
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.
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2023-09-15 at 11:33 am #7587Rene VermeerParticipant
I agree 100%. The adjustments are long overdue
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2023-09-15 at 11:34 am #7588Rene VermeerParticipant
I agree 100%. The adjustments are long overdue!
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