Letter sent by air mail 31 October 2011 to Toyoda Gosei Japan.
Regarding Toyoda Gosei Fluid Systems UK Ltd Pension Scheme.
I am
writing to you to voice the concern of some of the former employees of the
above company. When Toyoda Gosei decided to close this company in 2008, there
was an expression of concern to the then employees that the closure should be
as honourable as possible. Also, there was a guarantee from Japan
While we are willing to accept this funding of the scheme
will still be the case (as I have a copy of the guarantee document legally
enforceable in both the United Kingdom and Japan) we are duly worried about the
capability of both the pension trustees (The Trustee Corporation – Hammonds
LLP) and the original pension administrators (Legal & General) in carrying
out the closure and wind-up of the scheme.
This has been going on for over three years now, there have
been delay after delay, including extremely poor attempts at a data
consolidation, without a satisfactory resolution and while I accept The Trustee
Corporation may well be correct in the statement that there is no financial
loss to The Members (the ex-employees), one thing that Toyoda Gosei should be
concerned of is that while this continues there is additional costs involved
which someone will be meeting, with no other visible source of funding I would
expect that will be yourselves. So, it would be in your interest to oversee a
speedy conclusion.
I, on behalf of some of The Members have attempted to persuade,
coerce and push for a resolution but there is a general lack of urgency from
both The Trustee Corporation and Legal & General.
Listed below are the names of The Members who I am
representing: -
Miss xxxx xxxxxxxxxx
Mrs xxxxxx xxxxxxxxx
Mr xxxxxxxxxx xxxxxxxxxxx
Mrs xxxxxxxxxx xxxxxxxxxx
Mr xxxxxxxxx xxxxxxxxxxx
Mr xxxxxx xxxxxxxxxxxx
Mrs xxxxxxxx xxxxxxxx
Miss xxxxx xxxxxxxxxxxx
Mrs xxxxx xxxxxxxxxx
Miss xxx xxxxxxxxxxxxx
Miss xxxxxxxxx xxxxxxxxxx
Mr xxxxxxx xxxxxxxxxx
Miss xxxxxxxxxx xxxxxxxxxxxx
Mr xxxxxxx xxxxxxxxxx
Miss xxxxxxxx xxxxxxxxxx
Mr xxxxxxxxxx xxxxxxxxx
Mr xxxxxxxx xxxxxxxxx
Mr xxxxxxx xxxxxxxx
Mrs xxxxxxxx xxxxxxxxx
Mr xxxxxxxx xxxxxxxxxxx
Along with these people I have also been contacted by a firm
of financial advisors who state that they are also representing a “good number”
of pension members and are receiving similar treatment over this winding up.
Please could you respond to this letter stating what Toyoda
Gosei are prepared to do to ensure a satisfactory conclusion to this?
I know that Toyoda Gosei would want this to complete with
minimal fuss, however, should this continue along its present course of poor
service, poor advice and poor reporting of the situation to The Members I feel
the only option open will be to contact the national media (both newspaper and
television) to air our concerns.
Yours truly,
Richard (Henry) Nichols
