CHEVRON UK PENSIONERS’ ASSOCIATION

ANNUAL GENERAL MEETING

The Medical Society of London, Chandos Street, London W1G 9EB

11.00am 8 October 2025

 MINUTES OF MEETING

INTRODUCTION:

After welcoming all attendees to the meeting, the Chairman (D Alan Higgins) commenced proceedings with a safety moment. As in the previous AGM, he stressed the need for care with the onset of Autumn when using garden machinery and to take extra care against slips, trips and falls with wet conditions underfoot.

The Chairman asked the meeting to remember those friends and colleagues we have lost during the last 12 months. A short moment of silence then followed.

DAH introduced the committee members in turn.

PRESENT:

AT THE VENUE:

D Alan Higgins (DAH)      Alan Dennison (AD)         Andrew Nisbet (AGN)     Grace Shacklady (GS)     

Chris Simes (CS)               Steve Wilson (SW)            Steve Ladle (SL)

Mr. & Mrs. Malcolm Seedhouse                

VIA ZOOM:

Peter Young (PY)           Neil Jones (NJ)        Doug Reoch       Karen Petrie        William Martin

David Low                     Stewart James         Ted Williams      Simon Humphries   David Betts

Alex MacMaster         Charles Abernethy   Stewart Cusden      Seamus O’Connor    Alan Leiper

Jeremy Nelson             Gordon Smith           Anastasis Pittiarides          Brian Spittlehouse                     

Fergal Hayes                Ian MacDonald          Jamie Newell        Don Hogan                  

1.    APOLOGIES FOR ABSENCE:

Peter Brockett            Derek Smith

2.MINUTES OF THE ANNUAL GENERAL MEETING – Held on 1 October 2024

The minutes of the AGM held on 1 October 2024, summarised on the website and dated 26 August 2025 were approved unanimously, proposed by SW seconded by AD.  Subsequent to the meeting a hard copy has been  signed for the record, by  Vice-Chairman (NJ), as being a true account of that meeting .

MATTERS ARISING

There were 2 items of ‘other business’ still in progress at the time of the 2024 AGM. The status of these was discussed by NJ.

Firstly, the changes to the Constitution  providing for online attendance and voting at an AGM have been completed and are recorded on the website.

Secondly, from an earlier question by Steve Wilson, it was reported that following the completion of the acquisition of Hess by Chevron, there has been no impact on the Chevron UK pension plan. The Hess UK pension arrangements have remained entirely separate.

3. SUMMARY OF CHAIRMAN’S REPORT  2025

The Chairman (DAH) gave the meeting a review of the high level of activity since the last AGM.        He emphasised the independence of the Association (from the company) and outlined the increased level of contact made with Company personnel since the last AGM.  DAH also outlined the contacts made directly with the Trustees and political and regulatory bodies.

3 online meetings have been held with Mr. Ashley Sanders. 2 meetings with representatives of the Trustees and letters written to MP’s, pensions lobby groups and the Pensions Regulator. The common themes have been the continued inequitable treatment of pre-97 pension payments and the role of Trustees, particularly under a move to a Professional Corporate Sole Trustee (PCST). These were the main discussion points with Ms. Harriet Wu, Chevron San Ramon, in mid July.

DAH reported that at one of the meetings with Trustee representatives, the ‘Living Standards and Wellbeing Survey’ was initiated. The response to this survey, conducted through the summer of this year was very encouraging. There were 1184 responses from pensioners, including Association members. It is hoped the results, when available, will provide strong support for future discretionary increases, particularly since there will be no such increase in 2025.

The company announced its intention to appoint a PCST in the spring of 2025. This came as a total surprise and immediately raised all manner of questions as to how this would operate.  International Governance Group (IGG) have been appointed to be the PCST and 3 of their representatives are nominated as Trustees. The meeting was advised by Alan Dennison, a former Member Nominated Director, that the existing Trustee body has been de-commissioned. He also advised that 2 former Trustees will continue in their role, with IGG, until the Trust Deed Articles are amended. Committee representatives have met with company staff and now, former Trustees on this matter. Some level of reassurance of impartiality from IGG has been received, who appear to recognise they have responsibilities to all class of pensioners and stakeholders.

In addition to contacts with Ms. Harriet Wu, the Association wrote for the second time to Mr. Mike Wirth Chairman and CEO of Chevron. The point of this letter was to express the extreme disappointment, even anger, at the lack of a discretionary increase in 2024, as evident at the 2024 AGM. This at a time when the fund had a surplus of some £300 million and the company had announced a 50% contribution reduction for employees and a suspension of company contributions to the plan. A response to this letter was received from Ms. Anne Manha, General Manager Benefits, Houston, on behalf of Mr. Wirth. This response, although courteous, stated company justifications only and made no recognition of pensioner hardships or inequitable treatment.

DAH recognised the activities being undertaken by new committee member Steve Ladle in support of more equitable treatment of pre-97 pension payments. He has been working directly with pensions lobby groups, drafting letters to send to MP’s and attending meetings as the 2025 Pensions Bill passes through consultation phases.

DAH concluded his report by mentioning meetings with pensioner groups in Aberdeen, which has led to increased Association membership. He reviewed the roles of the individual committee members and expressed his appreciation to all meeting attendance for their participation and support.

He also mentioned the need to consider a small increase to subscriptions to cover principally increased travel costs. This to be discussed further under the Treasurer’s Report.   

He emphasised that, although the present Committee is working well, new members are always needed and any volunteers would be most welcome – no experience or knowledge of pensions necessary!

4. REVIEW OF ACCOUNTS AND TREASURER’S REPORT

Presented by AD on behalf of Treasurer Peter Young who had offered apologies and was available online to answer questions

The accounts, as at 30 June 2025 were reviewed and differences to prior year were noted.

1.  Another successful year, financially. Healthy funds balance of £9,731.55
2. Expenses increased during the year due to a significant increase in activity and associated travel costs.
3. Income increased from prior years to £5,486.
4. Resultant net deficit of £1,395.10 for the year.

It was noted that due to cost increases in all areas and a stable level of income, a proposal was tabled to increase the annual subscriptions of those currently paying £10 per annum, to £15 per annum. Proposed CS, seconded SL and approved by the meeting.

Alan Dennison for Peter Young

The Accounts and Treasurer’s Report were unanimously approved (proposed CS; seconded SL)

5. MEMBERSHIP REPORT

Summary of report by Membership Secretary Chris Simes (CS)     

1. There are 581 email subscribers on the database
2. There are currently 775 members on the database
3. There are 167 copies of Insight being delivered by post
4. There have been 37 new members in 2025. Many of these following meetings held by the Chairman in Aberdeen.

                Other points to note:

1. All new members have selected to receive Insight by email.
2. Identified multiple entries on database for members and marked for deletion.
3. Several routine requests by family members for membership status.
4. Member email updates in progress.
5. A number of members have asked about their payment status.

6.  WEBMASTER’S REPORT     

Andrew Nisbet presented the recent activity related to the website and membership database, summarised as follows:

1. AN reviewed the history and content of the website with particular recognition of the huge contribution made by Dave Poulter. (Sadly deceased). The membership management system had become outdated, mailing requirements expensive and overall, an inefficient means of communicating with members.
2. An updated online membership system was created and implemented in 2022. Use of the new system identified a number of problems areas: correct current email addresses, payment of subscriptions, distribution of the Insight newsletter, accurate recording of deceased members.
3. The use of Mailchimp as an email management system, has greatly improved efficiency in communication with members, reducing surface mail costs, managing compliance and anti spamming requirements. Mailchimp also facilitates surveys and polls such as the recent survey concerning the recently announced move to a PCST.
4. A shared Zoom licence has resulted in reduced committee meeting costs and increased participation in the AGM, which reached a record 36 attendees this year, 24 online.
5. A ‘zoomy coffee morning’ was also held. It is planned to hold another such informal online chat between members in the near future

7. ELECTION OF NEW COMMITTEE MEMBERS

DAH was pleased to announce that a new committee member, Mr. Steve Ladle was stepping up for election. Steve has already been very active with the initiative of members writing to their MP’s, CUKPA re-joining the HPPA Alliance and with attending consultation meetings concerning the 2025 Pensions Bill. This in relation to fairer treatment of pre-97 pensioners which is completely aligned with CUKPA objectives. DAH expressed his appreciation for Steve’s leadership on this subject.

DAH formally proposed SL for committee membership, seconded by NJ. Unanimously approved.

    RE-ELECTION OF COMMITTEE MEMBERS

Following the end of his previous 3 year appointment term, committee member Alan Dennison was offering himself for re-election. Unanimously approved by the AGM.

These actions result in there being 9 committee members for the forthcoming year.

7. ANY OTHER BUSINESS

                1. Mr. Seamus O’Connor introduced himself as a recipient of an Irish Gulf pension. DAH expressed his appreciation for Mr. O’Connor’s attendance at the meeting. Mr. O’Connor, in response to earlier comments concerning inflationary increases to insurance company annuity payments, stated that former Irish Gulf pensions, now paid by an insurance company, were subject to small inflationary increases. On the death of the annuitant, an element of the payment went to the surviving spouse. Mr. O’Connor to pass further information to DAH.

                2. Mr. Doug Reoch raised the matter of IGG as the company providing PCST services to the plan in future, particularly the ownership of this company. Doug expressed concerns that the ownership of IGG appeared vague and subject to frequent change. AD stated that he understood that the company had conducted its due diligence properly and had selected IGG from a list of some 10 potential providers. He re-stated his view that the 3 individuals assigned to the Chevron UK plan appeared to be professional, knowledgeable and bringing an equitable approach to the assignment.

                3. Mr. Macdonald asked if the Trustee has the responsibility to recommend pension increases. AD responded that the Trustee can recommend increases, but it is not an obligation.

                4.On the subject of pensions increases, particularly pre-97, Mr. Stewart Cusden referenced CUKPA’s letter to the Pensions Regulator and asked if there had been a response. He also asked if the committee had considered contacting the media about the matter. NJ provided comments as to the company’s reaction to this letter, which was one of annoyance. DAH stated that an acknowledgement had been received from the Regulator’s office. He also said that the committee had not considered contacting the media, but would do so in relation to other pensions matters currently in progress. SL stated that there were 12 companies in the HPPA Alliance, many of whose pensioners were in a much poorer situation than Chevron’s regarding discretionary pre-97 increases.

8. CLOSE OF MEETING

DAH called on members to consider submitting articles of interest for the newsletter and again, their candidacy as committee members.

The Chairman thanked all participants, in person and online, for attending the meeting in what was a record ‘turn out’ overall.

The meeting closed at 12.50 hrs.