What about us ? FOLLOWING the actuarial valuation in March 2007, the trustees agreed a schedule of contributions with the company. It provided for an annual review of the funding level. If there is a deficit on one particular measure then some extra contributions will be due from the company but if the fund is in surplus the company can reduce or suspend its contributions. All well and good for Unilever. But the arrangement opens the way for yet more contributions’ holidays in the future and we would regard this as unfair and campaign against it unless we, as pensioners, actually benefited from the fact the fund had more cash than was necessary to meet all its liabilities. It should never be forgotten that it is universally accepted that a pension is a form of deferred pay. It is part of our pay packet or salary cheque though we don’t receive it until we have stopped working. The European Court of Justice made this ruling in 1990 and, in pension calculations, nearly a third (30%) is built in to cover cost of living increases throughout a person’s retirement so our calls are not unreasonable, particularly as we are becoming poorer all the time because of rising prices