Annual meetings 2016

Your Association needs you!

Our AGM is at 11.30am on Tuesday, 25 October 2016 at St Alban’s Centre, Baldwin Gardens, off Gray’s Inn Road, London EC1N 7AB.

Scheduled company speakers are group finance director Vijay Vaghela, supported by Philip Brown. Trustee chairman Joanna Matthews will also attend, supported by Carol McNamara and David Astley from the pensions dept.

The Scottish annual meeting is at 11.30am on Monday, 7 November 2016, at One Central Quay, Glasgow, G3 8DA.

Proposed speakers are Vijay Vaghela, supported by Philip Brown, and Joanna Matthews supported by Carol McNamara.

New committee members

NICK FULLAGAR (London) and DAVID TATTERSALL (Scotland) have joined the AMP committee. Full details have been posted on the About Us>Committee page.

Merry Christmas!

We wish all our members and their families a very Merry Christmas and a happy New Year – and beyond.

Scots’ tax relief

By TOM BROWN

AMP members in Scotland have been worried by letters from Her Majesty’s Revenue and Customs (HMRC) about “the Scottish Rate of Income Tax”.

The advice is: You don’t need to do anything about the letters, unless you’ve recently changed your address. And you won’t be paying any extra income tax in 2016-17.

However, a financial expert suggests that in a few years, those in the supertax bracket may want to cross the border as tax exiles and use Newcastle or Carlisle as the UK version of Monaco!

The HMRC letter told Scots that from April “some of your income tax will be paid to the Scottish Government” and asking for confirmation of address “so that you pay the right amount of tax”.

The concern was caused by a warning that the Scottish Government’s draft budget “will include its proposals for the Scottish Rate of Income Tax which may affect the amount of tax you pay”.

However, when Finance Secretary John Swinney presented the first Scottish budget with new powers to raise or lower the levy by 10p in the pound, he resisted the temptation to set a different income tax rate north of the border for the next financial year.

With a Scottish Parliament election looming next May, Mr Swinney was playing safe. But his hope for “more flexibility” on tax rates from 2017/18 was taken as a prediction that Scottish taxpayers would be paying more than the rest of the UK.

If that happens, wage and pension departments of companies based in London would have to change their systems to take higher tax from employees and pensioners living in Scotland.

Confused? A lot of people are, so we sought advice from top financial adviser Raymond Pirrie, whose Glasgow-based Rosemount Asset Management manages £50 million of assets. Raymond has told his clients: “From April 2016, the Scottish Parliament has devolved powers to enable it to set the Scottish Rate of Income Tax (SRIT). There has already been speculation that this may mean a higher rate of income tax in Scotland than in other parts of the UK.

“HMRC, in their own inimitable style, have come up with a cunning plan and have issued a statement indicating that a Scottish tax payer will be defined using a simple test:

“‘For the vast majority of individuals, the question of whether or not they are a Scottish taxpayer will be a simple one – they will either live in Scotland and thus be a Scottish taxpayer or live elsewhere in the UK and not be a Scottish taxpayer.’

“Given the possibility that income tax rates in Scotland could be higher than the rest of the UK, then some taxpayers living and working in Scotland may want to consider where they live. This could mean that Carlisle and Newcastle, with their excellent transport links to Scotland, could become the UK’s very own version of Monaco, as taxpayers seek to establish residence in England to avoid SRIT.”

Scots annual meeting

Report by deputy chairman Tom Brown.

TRINITY Mirror chief executive Simon Fox faced another robust Q&A session, this time at the AMP’s Scottish annual meeting on November 2. Print-v-digital and the £220m Local World deal were on the agenda.

Trustees’ chairman Joanna Matthews announced that, for the first time, assets of the Mirror pension schemes have topped £1billion – although the pensions deficits have also increased.

Mr Fox admitted that Trinity Mirror’s national newspaper circulations are falling: “We’re in decline but declining more slowly than our competitors.” And despite the concentration on on-line business – page views are up 48 per cent and the group’s monthly audience is now 98 million visitors – digital revenue still does not offset the print downturn.

Pressed on when digital income would produce substantial profits to offset the print losses, he replied: “When is the tipping point? There is no doubt it will happen. Print is in decline, will remain in decline and to think otherwise is foolish.

“Smartphone use is growing and will be enormous. The Guardian has passed the tipping point, although there are other factors connected with it being a Trust.”

Asked about hearsay that the Daily Record was showing a loss some days of the week, Mr Fox declared: “The Daily Record remains a profitable part of Trinity Mirror across the week and I’m not sure how useful it is to break that down day by day.”

The Local World deal and development of new business, he said, “…are good for business, good for our shareholders and good for our pension fund – we are a larger, stronger and more successful business with all the benefits that scale can bring”.

Joanna Matthews said the investment climate continues to remain challenging, with long-term interest rates at a historic low. She said that the company continues to pay significant amounts into the pension schemes, currently £26 million a year.

Pensioners affected by the Aviva buy-in of pensions of those who retired before 1992 have told the AMP they are uncomfortable that their pensions will no longer be paid from the Mirror pensions office but by the insurance company. Joanna Matthews gave them an assurance that under their new Aviva policy they will still receive the same annual pension increases as paid by Trinity Mirror to all other Mirror pensioners in our schemes.

The meeting was told the AMP in Scotland is being reorganised to take account of the fact that it is increasingly difficult for committee members to make the journey to London. In future, a formal Scottish committee will meet in Glasgow at regular intervals and new committee members will be sought.

Lively debate at AGM

Trinity Mirror CEO Simon Fox was the unexpected speaker at the Association’s AGM in London this week (October 20) following the unavoidable last-minute absence of scheduled principal guest, company group finance director Vijay Vaghela. Vijay Vaghela will attend the Glasgow annual meeting on November 2, as planned. (Words Caro Cluskey, pic Bill Rowntree.)

The meeting was lively though not particularly well attended –  about 80 game souls made the journey to the St Alban’s Centre off Gray’s Inn Road to hear reports, discussions and questions on various pension, financial and company matters.

Other TM representatives present were deputy group finance director Philip Brown, group pensions manager David Astley, and Carol McNamara, group pensions administration manager.

‘C’ director trustee Alan Burns attended and spoke briefly.

Simon Fox reported on Trinity’s “difficult trading conditions” but reiterated that the company was determined to support and protect its two main dependants – its pension schemes and its shareholders.

In response to ex-marketing man Ron Carpenter’s complaints (Ron is pictured here, in full flow) about the duplication of sports content in the Sunday Mirror and Sunday People, Simon Fox agreed this shouldn’t be happening and promised to “speak to the editors”. (However, for a different take, see Roy Greenslade’s blog from August 19 this year: http://www.theguardian.com/media/greenslade/2015/aug/19/sunday-mirror-and-sunday-people-run-similar-football-supplements)

Simon Fox undertook to follow up complaints about lack of availability of Trinity Mirror titles in newsagents and supermarkets, and invited members to report instances direct to him at: [email protected]

Detailed discussions on matters of particular interest to AMP – deficits, schemes merger, the future of the Aviva insurance policy, for example – did not take place due to the absence through illness of independent trustee chairman Joanna Matthews. It is hoped she will be able to attend the meeting in Scotland on November 2.

Philip Brown confirmed the company’s increased deficits-reduction timetable to 2025, stating that the company expected investment income would then bring the pension schemes into surplus by 2027.

There were several tributes to now ex-chairman but new deputy chairman Tom Brown, who stood down from the top job because of health difficulties caused by Meniere’s disease. He will continue to be active in AMP affairs, although attending meetings in person will not be possible for the time being. In Tom’s absence Monty Court chaired the meeting, also reading out Tom’s final chairman’s report.

Secretary Gerald Mowbray reported on the AMP’s stable financial status as well as giving his secretary’s report – covering, among other subjects, autumn newsletter, website relaunch, Equitable Life, pensions schemes merger and AMP membership levels.

Members were urged to help the AMP’s recruitment drive when meeting or communicating with old colleagues at non-AMP events, lunches, dinners and other occasions when they cross paths with Mirror Group’s pensioners and active or deferred pensioners.

Chairman-designate Jill Palmer was endorsed by the meeting, and the current secretary, Gerald, and treasurer Roy White, were re-elected along with the current committee, apart from the five who have stood down to become honorary committee members (as reported in the Association’s recent Mirror Pensioner magazine.) They will continue to be involved, via email.

Next year’s AGM will be at the same venue at the same time on October 25 – St Albanʼs Centre, Baldwin Gardens, off Grayʼs Inn Road, London, 11.30am.

This year’s Scottish annual meeting is on Monday, November 2 from 11.30am at the usual venue, Scottish Daily Record and Sunday Mail office, in Glasgow.

Trinity cuts affect AMP

THE Association of Mirror Pensioners regrets that the forthcoming and future issues of Mirror Pensioner magazine will be sent to AMP members only. Pensioners who have not joined AMP will no longer receive our bumper autumn newsletter, writes chairman TOM BROWN.

With generous financial help from Trinity Mirror, previous issues had been printed and mailed to around 9,000 Mirror pensioners and deferred pensioners, irrespective of AMP membership.

But Trinity Mirror says it is having to review every one of its costs and has informed us that, as part of a cost-cutting programme, it can no longer provide that support. The company’s latest report showed increased cost-cutting – from £10M to £20M.

A director explained: “As you will be aware, trading is tough and we are having to take further cost actions to support the business. In light of this we have given serious consideration to our continued funding of the newsletter and regret that we will be unable to fund the cost.”

AMP feels it would be unfair to our loyal paid-up members to use association funds to continue to extend distribution of Mirror Pensioner to non-members.

The AMP fund has been contributed by members for professional advice and legal services, which can be expensive, and for supporting members who have to take action to receive their pension entitlement. In today’s fast-changing pension environment, it is vital to have that financial protection.

Our annual spring newsletter is unaffected because the printing and postage are paid for by AMP, and it will continue to be distributed to AMP members only, as now.

If you are a member of Mirror Group “Old” Scheme with its linked Past Service Scheme (PSS), and/or the MGN “New” Pension Scheme, you are eligible to join the Association of Mirror Pensioners.

There’s a joining form on the “Join Us” page (see drop-down menu above). Simply double click on the PDF and print it out.

This autumn’s issue of Mirror Pensioner, now in production, will include all the latest news about our pensions, plus stories about our ex-colleagues (and what they get up to!) and a special members-only travel offer.

DON’T MISS IT! If you are not an AMP member – JOIN NOW!

Our latest Patron

THE AMP has a new patron in the House of Commons – Ian Austin, Labour MP for Dudley North.

A former journalist, Ian has always been a friend to Mirror people and was a front-bench spokesman on work and pensions in the last Parliament, so is particularly well suited to our needs.

He replaces our two former Commons patrons – Labour MP Tom Clarke, who lost his Coatbridge seat at the general election, and Conservative Lorraine Fullbrook, who stood down.

After a spell as a sports journalist in the Midlands, Ian Austin was Deputy Director of Communications for the Scottish Labour Party, and in 1999 was appointed a political advisor to the Chancellor of the Exchequer (later Prime Minister) Gordon Brown.

He was elected MP for his home town in 2005 and is now one of the most active back-benchers, outspoken on behalf of anyone he represents. He was the only Labour MP to increase his majority at the general election.

One of his lesser-known achievements is to have twice been nominated as official “Beer Champion” for campaigning on behalf of local pubs and brewers, including successfully requesting that beers from his local brewery in Dudley be served in Parliament.

Ian told the AMP: “I would be delighted to become a patron of the Mirror Pensioners group and offer any support and advice I can.”

Our other Parliamentary Patrons are: House of Lords, Lord Oakeshott of Seagrove Bay and Lord  McFall of Alcluith; Scottish Parliament, Michael McMahon MSP; European Parliament, Jacqueline Foster MEP.

Keith Waite exhibition

An exhibition and sale of 40 of KEITH WAITE’S sharpest Daily and Sunday Mirror cartoons is to be staged in July (2015) in his home town of Ipswich. Some of the money raised will aid the town’s St Elizabeth’s Hospice, where Keith died last year aged 87.

Keith Waite was one of Britain’s greatest-ever political and social cartoonists and his work is eagerly sought by collectors. He worked for the Daily and Sunday Mirror from 1969 until 1986 – when he walked out after a furious row with Robert Maxwell.

Many of the cartoons on display will feature Premier Margaret Thatcher and some of her ministers. There will also be a cartoon of Arthur Scargill. One of the cartoons will be raffled in aid of St Elizabeth’s Hospice. The other cartoons are for sale and a proportion of the proceeds will also go to St Elizabeth’s. The exhibition will be aboard the restored sailing barge Melissa, moored at Ipswich’s Orwell Quay. It will be open from 10am to 7pm on Saturday, July 4 and Sunday, July 5. AMP members are welcome.

Keith’s widow Renee said: “A published newspaper cartoon is relatively small but the original artwork is large and incredibly detailed. Working out how to organise the display on a barge is a little more tricky than in a gallery!” New Zealander Keith, a prize-winning childhood cartoonist, came to Britain in 1951. He was the Cartoonist Club’s cartoonist of the year in 1963.

During his long career, he worked in Glasgow for the then Kemsley-owned Daily Record and Daily News, then Punch, the Daily Sketch, and the old Sun before it was sold to Rupert Murdoch.

After he left the Mirror, Keith spent a year sailing before joining The Times City Diary. He retired in 1997. Renee paid tribute to Keith’s prolific output. “It might seem like a heavy workload but Keith produced three cartoons a day for many years. He also produced line drawings, watercolours and woodcuts, many of his great love, the sea.”