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IBM Pension Scheme

It is difficult. I am always willing to try to learn from the systems and approaches to industrial relations, pensions law, welfare or any other area in other countries. The more we all do that, the more we have to learn from each other. However, in the pensions area it is quite distinct: Britain is unusual because such a large proportion of its work force have accrued rights in defined benefits schemes, compared with other European countries. That usually leads people down some peculiar and not very accurate paths, generalising about European issues and then trying to bring the discussion back to a different circumstance, with additional pensions, in this country. I am not saying no, but it is often not easy to compare, and people are not comparing like for like when they do that.