• Make a contribution
  • Get the Print Edition
  • Sign up for our daily newsletter
Thursday, May 22, 2025
  • Login
Reading Today Online
  • HOME
  • YOUR AREA
    • All
    • Caversham
    • Central Reading
    • East Reading
    • Katesgrove
    • Reading
    • Southcote & Coley
    • Tilehurst & Norcot
    • Whitley

    Council announces fresh wave of cost of living support

    Knife crime in Thames Valley down nearly 10% last year, ONS figures show

    Nearly 100 singers raised their voices for women’s health

    TK Maxx moves to The Oracle, gives customers the chance to win a gift card

    Man wanted for dangerous driving and failing to stop

    Woman in her seventies sexually assaulted on bus in Reading

    Government announces unified parking app rollout

    Four in a row for BAPCO

    Broad Street Beats bolsters wellbeing during Mental Health Awareness Week

  • COMMUNITY
  • READING FC
  • SPORT
    • All
    • Basketball
    • Football
    • Rugby

    Former Reading FC manager Ruben Selles linked with League One job

    Four in a row for BAPCO

    Reading fans – you can finally dare to dream again

    Rob Couhig reveals new Reading FC CEO following takeover

    It’s a podium streak for Wokingham racing star Bobby with a win at Silverstone

    Rams RFC celebrate at end of season ball

    Lewis hits brilliant century to see Berkshire CCC beat Buckinghamshire

    ‘Without you, there would be no club’: Defender sends farewell message to Reading FC fans

    Style and splendour returns to Newbury

  • ENTERTAINMENT
    • ARTS
    • READING FESTIVAL
    • READING PRIDE
    • WOKINGHAM FESTIVAL
  • PRIDE OF READING
  • OBITUARIES
  • JOBS
  • ADVERTISE
  • CONTACT US
No Result
View All Result
Reading Today Online
No Result
View All Result
Home Business

Pensioners protest at Hewlett Packard’s Reading Headquarters

Staff Writer by Staff Writer
Wednesday, September 20, 2023 2:20 pm
in Business, Featured, Lifestyle, Reading, Uncategorized, Winnersh
A A
Pensioners angry that their pensions have not risen in 20 years marched to Hewlett Packard Enterprise headquarters. Picture: Emma Merchant

Pensioners angry that their pensions have not risen in 20 years marched to Hewlett Packard Enterprise headquarters. Picture: Emma Merchant

Share on FacebookShare on Twitter

A GROUP of angry Hewlett Packard Enterprise (HPE) retirées gathered to protest about the value of their pensions which they say have lost 65% of their purchasing power over the last 20 years.

HP Pension Association led the rally from Winnersh Triangle Station to Hewlett Packard Enterprise’s Reading headquarters, where the group gave a petition signed by more than 1,000 pensioners to an executive representative.

Mainly in their 70s and 80s, the protesters worked for the tech giant pre 1997, and say they now find themselves in ever-increasing financial crisis.

They say that an average pensioner on £10,000 per annum has lost about £70,000 over 20 years, and that the deficit for the group as a whole is above £200 million, and climbing.

Diane Ranwell said: “We haven’t had an increase in pension in two decades.

Related posts

Woman in her seventies sexually assaulted on bus in Reading

Boy sexually assaulted in Reading, police release e-fit

Reading man fails to appear in court on charge of burglary

Young man and woman attacked by group of teenagers in Reading robbery

“My husband still has to work, and he’s 85 next month, so we haven’t had a retirement because it’s just not possible to do so.”

The pensioners are angry because they say they are not being treated the same as more recently retired colleagues, and because the company is not listening to their concerns.

Those with service post 1997 receive annual increases to their pensions, guaranteed under the government’s Pensions Act of 1995.

But people who retired before that date do not benefit from the inflation protection.

Any increases in pension are at the discretion of the employer, in this case, HPE.

The protesters say that the tech giant appears to have a policy of no increases in pension unless required by law, with very few exceptions.

They also say that the company refuses to disclose the criteria used to decide if an increase in pensions is to be awarded.

“It’s secretive and covert,” said HP Pensions Association officer Martin Ranwell.

“They won’t say because there are no criteria, and they cannot justify their ‘no increase’ decisions.

“The annual reviews are a charade.”

Ms Ranwell continued: “I know it’s not against the law, but it’s not ethical.

“A lot of companies do pay their retired employees an index linked pension, it’s a drop in the ocean for HPE.

“My husband has lost £120,000 over the past 20 years.

“Last year the chief executive took home $17 million.

“Their profits are enormous.”

The group says that Hewlett Packard is aware of the problem, and has repeatedly been asked for a change of policy.

The pensioners are angry that the company refuses to do so, and say that it will not even meet with representatives to discuss the issue.

“It appears that HPE management does not care, and puts profits first,” said Mr Ranwell.

“We believe that they simply do not value us, or care about our wellbeing.”

The pensioners say they want the company to live up to its claimed high ethical values, and are asking to be treated with the same fairness and equality as those in service post 1997.

“We want a meeting with senior management, and an agreement to address the increasing financial crisis of their pensioners,” said Mr Ranwell.

“This rally is taking place because all else has failed and we are just ignored.

“The company says, ‘speak to the trustees,’ and the trustees say, ‘speak to the company.’ “

Protesters came from Thames Valley, and further afield, including from Banbury, Winchester, and Devon.

Steve Leadbetter and John Brooks travelled from Basingstoke and Newbury.

Mr Leadbetter said: “I’ve been retired for eight years, but some here have been pensioners for a lot longer, and they’ve had hardly any pension increase in 20 years.”

“It’s not moral,” added Mr Brooks.

“We joined Digital Equipment Corporation (DEC) as it was then, before HP took over.

“Digital was always a very moral company.

“Even though HP might be adhering to the letter of the law, to not give people with credits prior to 1997 anything, is just not fair.

“People talk about triple lock.

“We’re not getting any lock at all; there’s no increase whatsoever, and a lot of the older pensioners are struggling.”

Mr Leadbetter added: “The mantra of Digital was that it was people-centric, and the key thing was always, ‘do the right thing.’

“This isn’t the right thing.”

A petition with more than 1,000 signatures was given to a representative of HPE, who said she would pass it on to executives.

Asked to comment, the company gave the following statement: “HPE is committed to satisfying all of its responsibilities to both current and former team members.

“The decision on whether to grant discretionary increases to relevant pensioners is given careful consideration and is made based on a number of factors.

“It is reviewed on an annual basis.”

Keep up to date by signing up for our daily newsletter

We don’t spam we only send our newsletter to people who have requested it.

Check your inbox or spam folder to confirm your subscription.

Tags: rdgrdg newsrdgukRdguk borough newsreadingreading berkshirereading news
Previous Post

First glimpse inside Friar Street’s revamped McDonald’s

Next Post

Sedgley Park 20-41 Rams: Visitors break hosts unbeaten home record

FOLLOW US

POPULAR STORIES

  • Young man and woman attacked by group of teenagers in Reading robbery

    0 shares
    Share 0 Tweet 0
  • Former Reading FC star to be released as free agent by Championship club

    0 shares
    Share 0 Tweet 0
  • Former Reading FC star to become free agent following Championship relegation

    0 shares
    Share 0 Tweet 0
  • Thousands experience power outage in Reading, not expected to be fixed for hours

    0 shares
    Share 0 Tweet 0
  • Reading FC group Sell Before We Dai makes generous donation following end of campaign

    0 shares
    Share 0 Tweet 0

RDG.Today – which is a Social Enterprise – provides Reading Borough with free, independent news coverage.

If you are able, please support our work

Click Here to Support RDG.Today

ABOUT US

Reading Today is dedicated to providing news online across the whole of the Borough of Reading. It is a Social Enterprise, existing to support the various communities in Reading Borough.

CONTACT US

news@wokinghampaper.co.uk

Reading Today Logo

Keep up to date with our daily newsletter

We don’t spam we only send our newsletter to people that have subscribed

Check your inbox or spam folder to confirm your subscription.

The Wokingham Paper Ltd publications are regulated by IPSO – the Independent Press Standards Organisation.
If you have a complaint about a  The Wokingham Paper Ltd  publication in print or online, you should, in the first instance, contact the publication concerned, email: editor@wokingham.today, or telephone: 0118 327 2662. If it is not resolved to your satisfaction, you should contact IPSO by telephone: 0300 123 2220, or visit its website: www.ipso.co.uk. Members of the public are welcome to contact IPSO at any time if they are not sure how to proceed, or need advice on how to frame a complaint.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • MY AREA
    • Central Reading
    • East Reading
    • Bracknell
    • Calcot
    • Caversham
    • Crowthorne
    • Earley
  • COMMUNITY
  • SPORT
    • Reading FC
    • Football
    • Rugby
    • Basketball
  • ENTERTAINMENT
    • ARTS
    • READING FESTIVAL
    • READING PRIDE
    • WOKINGHAM FESTIVAL
  • PRIDE OF READING
  • OBITUARIES
  • JOBS
  • ADVERTISE
  • CONTACT US
  • SUPPORT US
  • SIGN UP FOR OUR NEWSLETTER
  • WHERE TO GET THE PRINT EDITION

© 2021 - The Wokingham Paper Ltd - All Right Reserved.