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The Newsletter of the Chevron UK Pensioners’ Association

I N S I G H T Date of last supplementation

For Chevron UK pensioners

It was _____1st December 2013____

F o r C a l t e x U K E x p a t r i a t e p e n s i o n e r s i t w a s 1 s t S e p t e m b e r

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Yes at last it’s spring, so welcome to the latest edition of Insight, we hope you enjoy. Your contributions and comments are always welcome! Ed ——————————————————————————————-- STOP PRESS Inspite of the downturn in crude prices, effective 1st April Total have seen fit to award their pensioners a supplementation. Also we have heard that Exxon Mobil , BP, and Shell pen-sioners have had, or will have a supplementation. We hope that Chevron will now demonstrate how they value us by making an award without delay.

ISSUE 32 Spring 2015

INSIDE THIS ISSUE General p.1 Chairman’s letter p.2 & 3 We have a cunning plan! p.4 Colours p.5 Sleepwalking towards retirement p.6 Every little helps p.7 Would you believe it? P.8 Chevron market p.9 The back Nine p.10 Equitable Life p.11 Company news p.12

Please check the address label on the envelope for your current subscription status 1) Standing Order 2) Subscription due MMMM/YYYY=date your annual subscription due. 3) FYI

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LETTER FROM THE CHAIRMAN This year there has been a complete east/west divide in Scotland as far as the weather is concerned. In the west, there have been snow, gales and icy conditions, whereas in the east, we have largely enjoyed bright sunshine, albeit with somewhat colder temperatures! But don’t the daffodils in springtime make all the difference, after a long winter? As I am sure you will recall, the last pensions supplementation was received on 1 December 2013 and accordingly, the Association has written to the Company on this subject. However, while the Association will continue to pursue the Company on this issue, members need to be aware of the severe financial circumstances being faced by the Company and the industry at the present time. Over the last 12 months, the oil price has fallen to less than half its previous level, with serious repercussions right across the industry. In Aberdeen alone, all the major oil and service companies - including Chevron - have laid off thousands of people - staff and contractors alike. Major projects have been deferred and times are extremely hard for many smaller companies across the region. While the oil price is slowly recovering, it will undoubtedly be some considerable time before it reaches anything like its previous levels. Notwithstanding all this, we are hoping to meet with Mr Ashley Sanders of Chevron at Westferry Circus in London at the end of April, when we will continue to bring our supplementation concerns to his attention, along with a number of other relevant issues. As I am sure you will have heard or read in the newspapers, some wide-ranging pension changes came into effect on 1 April 2015. Unfortunately these changes only affect people who have yet to retire. For those of us who have already retired, at present I am afraid we continue to be restrained by the conditions that prevailed at the time of our retirement. Following the AGM last year, attendee Mr Ron Groves volunteered his services in trying to track down some of our ‘missing’ members. Over the winter, Ron was extremely successful in re-establishing contact with some 59 members and on behalf of the Association, I would like thank him most sincerely for all the hard work he has put into this project – it is all very much appreciated. Thank you Ron! As usual, the Association held the first of two committee meetings of 2015 in London at the beginning of March, when a wide variety of topics were discussed. At that meeting, we were very pleased to welcome back Trevor Jones after a long period of serious illness, while following the meeting, we offered sincere thanks to Mrs. Cecelia Irvine who has decided to stand down from the committee after some two and a half years. 13

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COMPANY NEWS SAN RAMON, Calif., March 29, 2015 – Chevron Corporation (NYSE: CVX) today announced that its wholly owned subsidiary Chevron Global Energy Inc. has completed the sell down of its 135 million shares in Caltex Australia Limited (CAL) at a share price of AUD$35.00. Chevron will receive the cash proceeds upon settlement on April 2, and reflect the gain in second quarter 2015 results. ——————————————————————————- SAN RAMON, Calif., Feb. 16, 2015 – Chevron Corporation (NYSE: CVX) has reached a settlement agreement with James Russell DeLeon, the principal funder of the fraudulent lawsuit against Chevron in Ecuador. Chevron brought claims against DeLeon in Gibraltar, where DeLeon maintains a residence, for his role in funding and advancing the fraudulent lawsuit. In the settlement, DeLeon has resolved those claims by withdrawing financial support from the Ecuador litigation and assigning his interests in the litigation to Chevron. Chevron, in turn, has agreed to release all claims against DeLeon. . ——————————————————————————- BANGKOK, Thailand, April 3, 2015 – Chevron Thailand Exploration and Production, Ltd. (Chevron Thailand), today announced a $30 million commitment to create the Thailand Partnership Initiative (TPI), a five-year program to strengthen Thailand's competiveness and innovation by improving science, technology, engineering and mathematics (STEM) education and vocational education across the country. ———————————————————————— Chevron Share price at 10th April = $ 106.91 ___________________________________________ Your Pension Don’t forget any pension queries, address changes or bank changes, should be advised to The Chevron UK Pension Team, Aon Hewitt Scanning Division P.O. Box 196 Huddersfield HD8 1EG - Freephone 0800 585824 or from outside the UK +44 (0) 117 929 4001 or Email: chevron.pensions@aonconsulting..co.uk You can also check your pension details or access a pension payslip via www.chevronukpension.co.uk and then logging on to your account.

Chevron UK Pensioners’

Association Contact the Treasurer C/o 98 Goshawk Drive CHELMSFORD Essex CM2 8XP Phone: 01245-601451 ———————————————

Fighting for you Helping You

Informing You ————————-- Your Committee Chairman : Alan Higgins (chairman@cukpa.org.uk) Vice Chairman: John Charnock vicechairman@cukpa.org.uk Secretary: Dave Low (secretary@cukpa.org.uk) Treasurer: Dave Poulter (treasurer@cukpa.org.uk) Insight Editor: Dick Marland (editor@cukpa.org.uk) Trevor Jones John O’Donnell Ted Williams Neil Jones Website Editor: Dave Poulter Don’t forget to visit the Association Web site

www.cukpa.org.uk

Insight is edited and Published by

Dick Marland 01889 359802

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We would also like to thank our Newsletter Editor Dick Marland for his sterling efforts during a prolonged house move that necessitated using Wi-Fi from his local MacDonald’s to communicate with the wider world ! As you will see elsewhere in this edition, we have found it necessary to increase Association subscriptions this year. This is the first increase since 2003 and I am afraid we simply cannot put off the ‘evil day’ any longer. Subscriptions are used for bringing the committee together twice a year for meetings, travelling to meetings with the Company and funding the newsletter. It goes without saying that committee members are all volunteers and I would like to thank them all most sincerely for continuing to donate their time so willingly. We hope members will understand this need to increase subscriptions, after such a lengthy period. Over the last several years, the Association has held its AGM in Croydon, for which we would like to thank both Arthur Lyddall and John Donaldson. This year, by way of a complete change, we are in discussion with John Searle, on holding the AGM in Manchester, following the Company lunch. Please watch this space for further news in due course! News has reached us very recently, of the imminent retirement of John Donaldson from his post as Coordinator South. We would like to take this opportunity of thanking John for all his hard work over a number of years and wish him and Gaynor a long and happy retirement. Many thanks John! Finally, please do not hesitate to get in touch with the Association if you feel we can help in any way! All that remains is for me to wish everyone a good summer, most of which of course depends on the weather – let’s all keep our fingers crossed! Alan Higgins

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Retiree Welfare Programme. The vast majority of CUKPA members are already enrolled in the Company's welfare programme. This programme strives through Retiree News and Local Contact Persons (LCP's ) to keep in touch with pensioners by providing annual lunches, local contact and some anniversary gifts. You will of course be aware that times are hard for oil companies at the moment... and all departments are under pressure to make some savings however small. This has meant that, sadly, with immediate effect the official Retiree welfare programme will no longer be sending out gifts to celebrate significant birthdays and wedding anniversaries. An estimated saving of £3000 per annum . Ted Williams Committee Member

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Yes we do have a ‘cunning plan’ - well perhaps not so much cunning - but a clear idea of our objectives as an Association. For your information, your Association’s Mission statement is set out below Chevron UK Pensioners’ Association The Association is an independent voluntary group funded by member subscription, whose purpose is to represent and assist UK Company retirees in resolving any type of pensioner issue. Upon retirement, a Chevron pensioner finds him or herself in a more dependant situation to that of employment. Retiree benefits have a tendency to slip down the Company agenda in the tide of world and industry events. The Association exists to bring the plight of retirees’ financial and other circumstances to the Company’s attention. It is the sole organisation focused on combating any lethargy to ensure that the retiree benefits remain competitive with recognised indices. The Association is very appreciative of having regular and ongoing access to the ‘right’ people across the Company. To this end the Association Mission activities are described as:- • To remind current management of the debt that they owe to retirees by striving to persuade the Company to honour past promises and obligations. • To be vexatious complainers • To represent pensioners financial interests through constant pressure on the Company. • To engage in regular and ongoing dialogue with the right Chevron and other people. • To provide, develop and encourage communication via the website and the magazine. • To act as a direct conduit to AON/Hewitt with administration queries for members. • To maintain contact with current employees (and deferreds) at local offices by all means

possible. • To support and lobby on behalf of ex Caltex (UK) Overseas pensioners/ deferreds. • To investigate charitable and hardship issues where they exist amongst Chevron retir-

ees. • To link with other industry pensioner associations. • To brief new Chevron managers on pensioner issues. • To seek and compile pensions activity and data from other competitor companies. • To defend the Company from unjust criticism when appropriate. • To be recognised and achieve deserved credit for the effort the Association puts into

bringing about successful supplementation results. • To encourage, support and assist the Chevron Retiree Welfare Programme wherever

possible

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Equitable Life Equitable Life was the former AVC provider to Chevron and Texaco. Equitable Life got into serious difficulties and closed to new business, and paid a little out to a number of eligible members under a government scheme. Equitable Life is now in run off, reducing funds involved.. The funds left are all passively invested in long terms bonds. And has a duty of care to preserve the remaining eligible members benefits. Yield on these bonds are around 3%. In 2014 Equitable Life approached the Trustee to review the conditions and made a recommend a for transfer of policies to a different provider. There was an incentive to transfer for policyholders. The Trustee sent a communication to all members notifying them of the opportunity to transfer and the benefits of doing this. Partly as a result 244 withdrew funds valued at about £3.92m from the scheme. This leaves about 1,245 members with a valuation of £14.3m still with Equitable Life. The majority of the transferred funds appear to have been invested with Fidelity in the Chevron Trustee suggested lifestyle funds. It is recognised that the 3% return on this investment is attractive to some members and it has been a conscious move taken to retain them as a part of their investment portfolio. In 2015 a new proposal is expected following the apparent success of the previous communication, and a further follow up letter to members to accompany the statements should be issued. ——————————————————————————————————————–—————— Gulf get together A social evening has been arranged at the Devonshire Arms on Wednesday 3rd June at 5.30 pm. No need to book just turn up for a drink and a chat ————————————————————————————————————————-

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Forthcoming golf event

Addington Court Veterans Golf Club will offer male golfers aged at least sixty the chance to win a replica of the iconic ‘Claret Jug’ trophy and in addition the opportunity to drive off in a new car if they achieve a hole in one on the Eighth (par 3) at their course in South Croydon on Wednesday,1st July. Contact Arthur Lyddall for details - ajl@arthurlyddall.co.uk or 020 8657 8240 ——————————————————————————————————— The Back Nine You know time has a way of moving quickly and catching you unaware of the passing years. It seems just yesterday that I was young, just married and embarking on a new life with my mate. Yet in a way it seems like eons ago and I wonder where all the years went. I know that I lived them all. I have glimpses of how it was back then and of all my hopes and dreams. But, here it is - the back nine of my life and it catches me by surprise …. How did I get here so fast? Where did the years go and where did my youth go? I remember well seeing older people through the years and thinking that those older people were years away from me and that I was only on the first hole and the back nine was so far off that I could not fathom it or imagine fully what it would be like. But here it is …..my friends are retired and getting grey … they move slower and I see an older person now. Some are in better and some in worse shape than me ….. But I see the great change …. Not like the ones when we were young and vibrant but, like me, their age is beginning to show and we are now those older folks that we used to see and never thought we would become. And so ….now I enter into this new season of my life unprepared for all the aches and pains and the loss of strength and ability to go and do things that I wish I had done but never did! I’m on the back nine and I’m not sure how long it will last ...this I know, that when it’s over on this earth.. It’s over . A new adventure will begin! Yes I have regrets …. There are things I wish I hadn’t done … things I should have done, but indeed, there are many things I’m happy to have done. It’s all in a lifetime “Life” is a gift to you…. The way you live your life is your gift to those who come after. Make it a fantastic one. Live it well , enjoy today, do something fun! Have a great day and remember - It is health that is real wealth, not pieces of gold and silver - Live happy in 2015. Thanks to Arthur Lydall for sending these thought provoking words in. ——————————————————————————————————————— Next Association Committee meeting is set for Wednesday 18th July. If you have any issues or thoughts you would like to share then please write, phone or email any of the committee.

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Revised Subscription Rates We are sorry but we have had to revise our membership subscription cost due to continual increases in postage, printing and room hire charges - our first increase since Autumn 2003. To simplify matters we have based the new cost on age ra-ther than when you retired. If you pay by Standing Order please amend it as soon as possible. Forms are available from the Treasurer or can be down loaded from the bottom of the Association website ‘Join page’. The revised subscription rates are : £10 if you are under 80 years old. £5 if you are 80 or over, or are a surviving spouse. ————————————————————————————————————-- Colours 1 Which British city has an underground train system that is nicknamed the Clockwork Orange? 2 Who has been the longest serving female presenter on the TV show Blue Peter? 3 In the lyrics of the Tom Jones hit single Green Green Grass of Home , what is the name of the girl who has “hair of gold and lips like cherries”? 4 Who wrote The Hunt for Red October? 5 Yellow and black are the colours of what political party? 6 In the Wizard of what is the colour of the brick road! No only joking, what is the name of the city at the end of said road? 7 In the National Lottery’s main Lotto draw, there are five different colours of ball that can be picked . Four of these colours are used for ten balls, but which colour is only used for nine? 8 In which capital city would you find the only McDonald’s where the large ‘M’ is white instead of the standard yellow? 9 Which shade of purple was named after an 1869 battle in an Italian town? 10 In the world of TV what was purple in 2000, black and white in 2001, red in 2002, blue in 2003, red in 2004, blue in 2005, gold in 2006, see through with neon lights in 2007, gold in 2008 and multicoloured in 2009? Answers on page 9 ——————————————————————————————————————————- Free TV Licence for 75’s and over Just in case you may have overlooked this worthwhile saving :- “If you are currently 74 and your licence is due for renewal, you should buy a short-term licence to cover you up to your 75th birthday. Unfortunately we cannot accept your application before then. When you reach the age of 75, you may apply for a free TV licence. We’ll send you this licence every three years, provided we have your National Insurance Number . The free licence only covers your main home address. You’ll need to buy a separate TV Licence for any other properties.” See the website - www.tvlicensing.co.uk for more details

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Sleepwalking towards Retirement (an article of particular interest to those deferred pensioner members of the Association) With the demise of final salary pension schemes and continued under-funding of pension schemes generally, it is increasingly apparent that many people facing retirement in the future are likely to experience a shortfall in income. If, as is mooted, prevention is better than cure, then the obvious answer is greater focus upon increasing funding levels into pension planning. Unfortunately, many people have not grasped the contrast between having a pension and having an adequately funded pension plan. Thus, they believe that as they have a pension, no matter how small the contributions, they are on target for sufficient income in retirement. In reality, it is far more likely that a retirement fund will comprise of the total contributions made into it plus a moderate investment return less any stock market fluctuations. Arguably, this figure may well only amount to investment plus an average return of between 5% and 10% per annum. On this basis, the contributions may double in value in no less than 20 years assuming that stock market fluctuations do not erode this figure. If people are unaware of this then prevention of poverty in retirement is unlikely. Thus cure may well be the only remaining option. Such cures include working into old age, equity release or residential property sharing. Working into retirement speaks for itself provided there is the opportunity to do so. With the pop-ulation becoming older and more people competing for such positions, this may prove increasingly difficult. Another solution that is increasingly considered is Equity Release whereby people raise capital secured against the equity in their home. This is, in the main, a deferred debt against the property which is repaid, with accumulated interest, upon death. One of the concerns regarding this method of raising money is that the value of the estate passed onto beneficiaries is reduced as a result. There are limits to how much capital may be raised and it may also limit a property owner’s options for moving home in the future. An alternative is to share a home. This is not a new concept as until 50 years ago it had been common practice within families. However, the opportunity to share a suitable property with non-family members is a more recent development. For many people in the future, the majority of their value will be held within their home. Thus, it is generally considered that the only way to access this value is to either sell the property and downsize or raise a loan against the property. However, if a person owns a large property which is surplus to requirements, does not need to own an entire property to themselves or fears they will never be able to afford to buy a home of their own, then this is another option. The objective being that people whose main value is within their home can unlock it without involving a loan. People can receive capital either by selling a share of their home or by selling their existing home and purchasing a share of another, usually larger, property to live in. The released capital is theirs to do with as they so wish. It is also suitable for people who already have available capital and wish to purchase property. There are also other benefits in the form of shared costs of living as well as social, security and environmental advantages.

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Chevron Market Attentive readers of this magazine will recall that this time last year I extolled the virtues of Chevron Market www.chevronmarket.co.uk and the savings that can be made by buying goods and services through this web site. This is a genuine benefit for pensioners provided by the Company. Just have a look and see what you can save. Offers vary all the time but I have just got £60 cash back from Plusnet by switching my broadband provider. However, as I also indicated last year, there were some problems with the web site's Registration page acceptance of our Pensioner numbers. Whilst removing the Registration glitch has proven to be out of our control, there is a simple process to follow if your Payroll Number ( from your P60) is not accepted. 1 Click "Help" top right hand corner 2 "Help and support" page opens 3.Scroll to foot of page and open "Submit an enquiry-Registration problem" 4.Within 2 days there should be a response to your enquiry. In the unlikely event of no satisfactory outcome please feel free to email me at t tedwilliams77@gmail.com Ted Williams Committee member ———————————————————————————————————————— Colours Quiz Answers from Page 5 1. Glasgow 2. Konnie Huq 3. Mary 4. Tom Clancy 5. The Scottish National Party 6. Emerald City 7. White (for balls numbered one to nine) 8. Paris ( the yellow was deemed too tacky!) 9. Magenta 10. The diary room chair on Big Brother ————————————————————————————————————————- Please help the Treasurer identify these members. We can’t trace : Mr Tom Allen, Mr Brian Barnett, Brian Giddings, P Hadley, Mr Ken G Horne, Mr & Mrs R Jewers, Mrs Margaret Johnston, Mrs Eileen Knox, Mrs MECS, Mrs B.R. Millar, Mr Charles H Simpson, WW Stiles, TM Thomas, Mr Colin W Thorpe, Pamela Weil, JL Williamson, Mr Reg. Wilson. A. Lovell paid us for the first time on the 1st December 2014, we have no details about them. Can you please help with more information. Please email or phone Dave Poulter

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Would you believe it ?

*WILL THE REAL DUMMY PLEASE STAND UP???* AT&T sacked President John Walter after nine months, saying he lacked intellectual leadership. He received a $26 million severance package. Perhaps it's not Walter who's lacking intelligence. > 2. *WITH A LITTLE HELP FROM OUR FRIENDS:* Police in Oakland, CA spent two hours attempting to subdue a gunman who had barricaded himself inside his home. After firing ten tear gas canisters, officers discovered that the man was standing beside them in the police line, shouting, 'Please come out and give yourself up.' > 3. *WHAT WAS PLAN B???* An Illinois man, pretending to have a gun, kidnapped a motorist and forced him to drive to two different automated teller machines, wherein the kidnapper proceeded to withdraw money from his own bank accounts. > 4. *THE GETAWAY!!!* A man walked into a Topeka , Kansas Kwik Stop and asked for all the money in the cash drawer. Apparently, the take was too small, so he tied up the store clerk and worked the counter himself for three hours until police showed up and grabbed him. > 5. *DID I SAY THAT???* Police in Los Angeles had good luck with a robbery suspect who just couldn't control himself during a line-up. When detectives asked each man in the line-up to repeat the words: 'Give me all your money or I'll shoot', the man shouted, 'that's not what I said!'. > 6. *ARE WE COMMUNICATING???* A man spoke frantically into the phone: 'My wife is pregnant and her contractions are only two minutes apart'. 'Is this her first child?' the doctor asked. 'No! Jackass!' the man shouted, 'This is her husband!' > 7. *NOT THE SHARPEST TOOL IN THE SHED!!!* In Modesto, CA , Steven Richard King was arrested for trying to hold up a Bank of America branch without a weapon. King used a thumb and a finger to simulate a gun. Unfortunately, he failed to keep his hand in his pocket. ( hellooooooo )!

> 8. *THE GRAND FINALE!!!* Last summer, down on Lake Isabella, located in the high desert, an hour east of Bakersfield, CA, some folks, new to boating, were having a problem. No matter how hard they tried, they couldn't get their brand new 22 foot boat, going. It was very sluggish in almost every manoeuvre, no matter how much power they applied. After about an hour of trying to make it go, they putted into a nearby marina, thinking someone there may be able to tell them what was wrong. A thorough topside check revealed everything in perfect working condition. The engine ran fine, the out-drive went up and down, and the propeller was the correct size and pitch. So, one of the marina guys jumped in the water to check underneath. He came up choking on water, he was laughing so hard. Under the boat, still strapped securely in place, was the trailer! *Now remember these are all true stories*

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April brings the usual scramble to find the best ISA interest rates for the coming year! But don’t forget the NS& I pensioner bonds we mentioned in the last issue - From January 2015 people aged 65 and over will be able to buy the two new Na-tional Savings and Investments (NS&I) fixed rate pensioner bonds. There is a one-year bond paying a gross rate of 2.8% and a three-year bond paying 4%. The invest-ment limit per bond will be £10,000, and so a couple should be able to invest £40,000. On this subject my wife and I had a somewhat worrying incident when NS&I managed to lose any record of our cheque having been received (they had already cashed it!) But it all got sort-ed in the end and in fairness they did give us something as a gesture of goodwill. So don’t let that put you off - I am sure it was an isolated incident. Ed ————————————————————————————————————————— Every little helps Did you know that it MAY be possible to use some of your wife/husbands tax allowance (if he/she is not a tax payer) to offset your own tax liability. ‘Married couples and civil partners can register online for a new tax allowance but only households on low income stand to benefit. The marriage allowance permits a a spouse or civil partner who doesn’t pay income tax to transfer up to £1060 of their personal tax free allowance to their partner. But if that partner is a higher rate taxpayer earning more than £42,386 a year (I wish - Ed) then the couple will be excluded from the tax break. The government said the measure aims to introduce “ recognition of marriage into out tax system” and claimed the allowance would be available from April 6th* will save more than four million couples and 15,000 civil partners up to £212 a year. Couples can register their interest at gov.uk/marriageallowance *Whilst it is worthwhile registering if you are likely to qualify, with the dissolution of parliament whether this one will actually ‘make it ‘ remains to be seen! —————————————————————————————————————————— ‘A Step in the Wrong Direction' Policeman phones the Station - ''Hello Sarge, I've been called to a house where a woman has just shot dead her husband for walking on the floor that she had just mopped''. ''Have you arrested the woman?'' ''Not yet Sarge .. the floor's still wet''.

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Would you believe it ?

*WILL THE REAL DUMMY PLEASE STAND UP???* AT&T sacked President John Walter after nine months, saying he lacked intellectual leadership. He received a $26 million severance package. Perhaps it's not Walter who's lacking intelligence. > 2. *WITH A LITTLE HELP FROM OUR FRIENDS:* Police in Oakland, CA spent two hours attempting to subdue a gunman who had barricaded himself inside his home. After firing ten tear gas canisters, officers discovered that the man was standing beside them in the police line, shouting, 'Please come out and give yourself up.' > 3. *WHAT WAS PLAN B???* An Illinois man, pretending to have a gun, kidnapped a motorist and forced him to drive to two different automated teller machines, wherein the kidnapper proceeded to withdraw money from his own bank accounts. > 4. *THE GETAWAY!!!* A man walked into a Topeka , Kansas Kwik Stop and asked for all the money in the cash drawer. Apparently, the take was too small, so he tied up the store clerk and worked the counter himself for three hours until police showed up and grabbed him. > 5. *DID I SAY THAT???* Police in Los Angeles had good luck with a robbery suspect who just couldn't control himself during a line-up. When detectives asked each man in the line-up to repeat the words: 'Give me all your money or I'll shoot', the man shouted, 'that's not what I said!'. > 6. *ARE WE COMMUNICATING???* A man spoke frantically into the phone: 'My wife is pregnant and her contractions are only two minutes apart'. 'Is this her first child?' the doctor asked. 'No! Jackass!' the man shouted, 'This is her husband!' > 7. *NOT THE SHARPEST TOOL IN THE SHED!!!* In Modesto, CA , Steven Richard King was arrested for trying to hold up a Bank of America branch without a weapon. King used a thumb and a finger to simulate a gun. Unfortunately, he failed to keep his hand in his pocket. ( hellooooooo )!

> 8. *THE GRAND FINALE!!!* Last summer, down on Lake Isabella, located in the high desert, an hour east of Bakersfield, CA, some folks, new to boating, were having a problem. No matter how hard they tried, they couldn't get their brand new 22 foot boat, going. It was very sluggish in almost every manoeuvre, no matter how much power they applied. After about an hour of trying to make it go, they putted into a nearby marina, thinking someone there may be able to tell them what was wrong. A thorough topside check revealed everything in perfect working condition. The engine ran fine, the out-drive went up and down, and the propeller was the correct size and pitch. So, one of the marina guys jumped in the water to check underneath. He came up choking on water, he was laughing so hard. Under the boat, still strapped securely in place, was the trailer! *Now remember these are all true stories*

7

April brings the usual scramble to find the best ISA interest rates for the coming year! But don’t forget the NS& I pensioner bonds we mentioned in the last issue - From January 2015 people aged 65 and over will be able to buy the two new Na-tional Savings and Investments (NS&I) fixed rate pensioner bonds. There is a one-year bond paying a gross rate of 2.8% and a three-year bond paying 4%. The invest-ment limit per bond will be £10,000, and so a couple should be able to invest £40,000. On this subject my wife and I had a somewhat worrying incident when NS&I managed to lose any record of our cheque having been received (they had already cashed it!) But it all got sort-ed in the end and in fairness they did give us something as a gesture of goodwill. So don’t let that put you off - I am sure it was an isolated incident. Ed ————————————————————————————————————————— Every little helps Did you know that it MAY be possible to use some of your wife/husbands tax allowance (if he/she is not a tax payer) to offset your own tax liability. ‘Married couples and civil partners can register online for a new tax allowance but only households on low income stand to benefit. The marriage allowance permits a a spouse or civil partner who doesn’t pay income tax to transfer up to £1060 of their personal tax free allowance to their partner. But if that partner is a higher rate taxpayer earning more than £42,386 a year (I wish - Ed) then the couple will be excluded from the tax break. The government said the measure aims to introduce “ recognition of marriage into out tax system” and claimed the allowance would be available from April 6th* will save more than four million couples and 15,000 civil partners up to £212 a year. Couples can register their interest at gov.uk/marriageallowance *Whilst it is worthwhile registering if you are likely to qualify, with the dissolution of parliament whether this one will actually ‘make it ‘ remains to be seen! —————————————————————————————————————————— ‘A Step in the Wrong Direction' Policeman phones the Station - ''Hello Sarge, I've been called to a house where a woman has just shot dead her husband for walking on the floor that she had just mopped''. ''Have you arrested the woman?'' ''Not yet Sarge .. the floor's still wet''.

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Sleepwalking towards Retirement (an article of particular interest to those deferred pensioner members of the Association) With the demise of final salary pension schemes and continued under-funding of pension schemes generally, it is increasingly apparent that many people facing retirement in the future are likely to experience a shortfall in income. If, as is mooted, prevention is better than cure, then the obvious answer is greater focus upon increasing funding levels into pension planning. Unfortunately, many people have not grasped the contrast between having a pension and having an adequately funded pension plan. Thus, they believe that as they have a pension, no matter how small the contributions, they are on target for sufficient income in retirement. In reality, it is far more likely that a retirement fund will comprise of the total contributions made into it plus a moderate investment return less any stock market fluctuations. Arguably, this figure may well only amount to investment plus an average return of between 5% and 10% per annum. On this basis, the contributions may double in value in no less than 20 years assuming that stock market fluctuations do not erode this figure. If people are unaware of this then prevention of poverty in retirement is unlikely. Thus cure may well be the only remaining option. Such cures include working into old age, equity release or residential property sharing. Working into retirement speaks for itself provided there is the opportunity to do so. With the pop-ulation becoming older and more people competing for such positions, this may prove increasingly difficult. Another solution that is increasingly considered is Equity Release whereby people raise capital secured against the equity in their home. This is, in the main, a deferred debt against the property which is repaid, with accumulated interest, upon death. One of the concerns regarding this method of raising money is that the value of the estate passed onto beneficiaries is reduced as a result. There are limits to how much capital may be raised and it may also limit a property owner’s options for moving home in the future. An alternative is to share a home. This is not a new concept as until 50 years ago it had been common practice within families. However, the opportunity to share a suitable property with non-family members is a more recent development. For many people in the future, the majority of their value will be held within their home. Thus, it is generally considered that the only way to access this value is to either sell the property and downsize or raise a loan against the property. However, if a person owns a large property which is surplus to requirements, does not need to own an entire property to themselves or fears they will never be able to afford to buy a home of their own, then this is another option. The objective being that people whose main value is within their home can unlock it without involving a loan. People can receive capital either by selling a share of their home or by selling their existing home and purchasing a share of another, usually larger, property to live in. The released capital is theirs to do with as they so wish. It is also suitable for people who already have available capital and wish to purchase property. There are also other benefits in the form of shared costs of living as well as social, security and environmental advantages.

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Chevron Market Attentive readers of this magazine will recall that this time last year I extolled the virtues of Chevron Market www.chevronmarket.co.uk and the savings that can be made by buying goods and services through this web site. This is a genuine benefit for pensioners provided by the Company. Just have a look and see what you can save. Offers vary all the time but I have just got £60 cash back from Plusnet by switching my broadband provider. However, as I also indicated last year, there were some problems with the web site's Registration page acceptance of our Pensioner numbers. Whilst removing the Registration glitch has proven to be out of our control, there is a simple process to follow if your Payroll Number ( from your P60) is not accepted. 1 Click "Help" top right hand corner 2 "Help and support" page opens 3.Scroll to foot of page and open "Submit an enquiry-Registration problem" 4.Within 2 days there should be a response to your enquiry. In the unlikely event of no satisfactory outcome please feel free to email me at t tedwilliams77@gmail.com Ted Williams Committee member ———————————————————————————————————————— Colours Quiz Answers from Page 5 1. Glasgow 2. Konnie Huq 3. Mary 4. Tom Clancy 5. The Scottish National Party 6. Emerald City 7. White (for balls numbered one to nine) 8. Paris ( the yellow was deemed too tacky!) 9. Magenta 10. The diary room chair on Big Brother ————————————————————————————————————————- Please help the Treasurer identify these members. We can’t trace : Mr Tom Allen, Mr Brian Barnett, Brian Giddings, P Hadley, Mr Ken G Horne, Mr & Mrs R Jewers, Mrs Margaret Johnston, Mrs Eileen Knox, Mrs MECS, Mrs B.R. Millar, Mr Charles H Simpson, WW Stiles, TM Thomas, Mr Colin W Thorpe, Pamela Weil, JL Williamson, Mr Reg. Wilson. A. Lovell paid us for the first time on the 1st December 2014, we have no details about them. Can you please help with more information. Please email or phone Dave Poulter

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Forthcoming golf event

Addington Court Veterans Golf Club will offer male golfers aged at least sixty the chance to win a replica of the iconic ‘Claret Jug’ trophy and in addition the opportunity to drive off in a new car if they achieve a hole in one on the Eighth (par 3) at their course in South Croydon on Wednesday,1st July. Contact Arthur Lyddall for details - ajl@arthurlyddall.co.uk or 020 8657 8240 ——————————————————————————————————— The Back Nine You know time has a way of moving quickly and catching you unaware of the passing years. It seems just yesterday that I was young, just married and embarking on a new life with my mate. Yet in a way it seems like eons ago and I wonder where all the years went. I know that I lived them all. I have glimpses of how it was back then and of all my hopes and dreams. But, here it is - the back nine of my life and it catches me by surprise …. How did I get here so fast? Where did the years go and where did my youth go? I remember well seeing older people through the years and thinking that those older people were years away from me and that I was only on the first hole and the back nine was so far off that I could not fathom it or imagine fully what it would be like. But here it is …..my friends are retired and getting grey … they move slower and I see an older person now. Some are in better and some in worse shape than me ….. But I see the great change …. Not like the ones when we were young and vibrant but, like me, their age is beginning to show and we are now those older folks that we used to see and never thought we would become. And so ….now I enter into this new season of my life unprepared for all the aches and pains and the loss of strength and ability to go and do things that I wish I had done but never did! I’m on the back nine and I’m not sure how long it will last ...this I know, that when it’s over on this earth.. It’s over . A new adventure will begin! Yes I have regrets …. There are things I wish I hadn’t done … things I should have done, but indeed, there are many things I’m happy to have done. It’s all in a lifetime “Life” is a gift to you…. The way you live your life is your gift to those who come after. Make it a fantastic one. Live it well , enjoy today, do something fun! Have a great day and remember - It is health that is real wealth, not pieces of gold and silver - Live happy in 2015. Thanks to Arthur Lydall for sending these thought provoking words in. ——————————————————————————————————————— Next Association Committee meeting is set for Wednesday 18th July. If you have any issues or thoughts you would like to share then please write, phone or email any of the committee.

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Revised Subscription Rates We are sorry but we have had to revise our membership subscription cost due to continual increases in postage, printing and room hire charges - our first increase since Autumn 2003. To simplify matters we have based the new cost on age ra-ther than when you retired. If you pay by Standing Order please amend it as soon as possible. Forms are available from the Treasurer or can be down loaded from the bottom of the Association website ‘Join page’. The revised subscription rates are : £10 if you are under 80 years old. £5 if you are 80 or over, or are a surviving spouse. ————————————————————————————————————-- Colours 1 Which British city has an underground train system that is nicknamed the Clockwork Orange? 2 Who has been the longest serving female presenter on the TV show Blue Peter? 3 In the lyrics of the Tom Jones hit single Green Green Grass of Home , what is the name of the girl who has “hair of gold and lips like cherries”? 4 Who wrote The Hunt for Red October? 5 Yellow and black are the colours of what political party? 6 In the Wizard of what is the colour of the brick road! No only joking, what is the name of the city at the end of said road? 7 In the National Lottery’s main Lotto draw, there are five different colours of ball that can be picked . Four of these colours are used for ten balls, but which colour is only used for nine? 8 In which capital city would you find the only McDonald’s where the large ‘M’ is white instead of the standard yellow? 9 Which shade of purple was named after an 1869 battle in an Italian town? 10 In the world of TV what was purple in 2000, black and white in 2001, red in 2002, blue in 2003, red in 2004, blue in 2005, gold in 2006, see through with neon lights in 2007, gold in 2008 and multicoloured in 2009? Answers on page 9 ——————————————————————————————————————————- Free TV Licence for 75’s and over Just in case you may have overlooked this worthwhile saving :- “If you are currently 74 and your licence is due for renewal, you should buy a short-term licence to cover you up to your 75th birthday. Unfortunately we cannot accept your application before then. When you reach the age of 75, you may apply for a free TV licence. We’ll send you this licence every three years, provided we have your National Insurance Number . The free licence only covers your main home address. You’ll need to buy a separate TV Licence for any other properties.” See the website - www.tvlicensing.co.uk for more details

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Yes we do have a ‘cunning plan’ - well perhaps not so much cunning - but a clear idea of our objectives as an Association. For your information, your Association’s Mission statement is set out below Chevron UK Pensioners’ Association The Association is an independent voluntary group funded by member subscription, whose purpose is to represent and assist UK Company retirees in resolving any type of pensioner issue. Upon retirement, a Chevron pensioner finds him or herself in a more dependant situation to that of employment. Retiree benefits have a tendency to slip down the Company agenda in the tide of world and industry events. The Association exists to bring the plight of retirees’ financial and other circumstances to the Company’s attention. It is the sole organisation focused on combating any lethargy to ensure that the retiree benefits remain competitive with recognised indices. The Association is very appreciative of having regular and ongoing access to the ‘right’ people across the Company. To this end the Association Mission activities are described as:- • To remind current management of the debt that they owe to retirees by striving to persuade the Company to honour past promises and obligations. • To be vexatious complainers • To represent pensioners financial interests through constant pressure on the Company. • To engage in regular and ongoing dialogue with the right Chevron and other people. • To provide, develop and encourage communication via the website and the magazine. • To act as a direct conduit to AON/Hewitt with administration queries for members. • To maintain contact with current employees (and deferreds) at local offices by all means

possible. • To support and lobby on behalf of ex Caltex (UK) Overseas pensioners/ deferreds. • To investigate charitable and hardship issues where they exist amongst Chevron retir-

ees. • To link with other industry pensioner associations. • To brief new Chevron managers on pensioner issues. • To seek and compile pensions activity and data from other competitor companies. • To defend the Company from unjust criticism when appropriate. • To be recognised and achieve deserved credit for the effort the Association puts into

bringing about successful supplementation results. • To encourage, support and assist the Chevron Retiree Welfare Programme wherever

possible

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Equitable Life Equitable Life was the former AVC provider to Chevron and Texaco. Equitable Life got into serious difficulties and closed to new business, and paid a little out to a number of eligible members under a government scheme. Equitable Life is now in run off, reducing funds involved.. The funds left are all passively invested in long terms bonds. And has a duty of care to preserve the remaining eligible members benefits. Yield on these bonds are around 3%. In 2014 Equitable Life approached the Trustee to review the conditions and made a recommend a for transfer of policies to a different provider. There was an incentive to transfer for policyholders. The Trustee sent a communication to all members notifying them of the opportunity to transfer and the benefits of doing this. Partly as a result 244 withdrew funds valued at about £3.92m from the scheme. This leaves about 1,245 members with a valuation of £14.3m still with Equitable Life. The majority of the transferred funds appear to have been invested with Fidelity in the Chevron Trustee suggested lifestyle funds. It is recognised that the 3% return on this investment is attractive to some members and it has been a conscious move taken to retain them as a part of their investment portfolio. In 2015 a new proposal is expected following the apparent success of the previous communication, and a further follow up letter to members to accompany the statements should be issued. ——————————————————————————————————————–—————— Gulf get together A social evening has been arranged at the Devonshire Arms on Wednesday 3rd June at 5.30 pm. No need to book just turn up for a drink and a chat ————————————————————————————————————————-

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COMPANY NEWS SAN RAMON, Calif., March 29, 2015 – Chevron Corporation (NYSE: CVX) today announced that its wholly owned subsidiary Chevron Global Energy Inc. has completed the sell down of its 135 million shares in Caltex Australia Limited (CAL) at a share price of AUD$35.00. Chevron will receive the cash proceeds upon settlement on April 2, and reflect the gain in second quarter 2015 results. ——————————————————————————- SAN RAMON, Calif., Feb. 16, 2015 – Chevron Corporation (NYSE: CVX) has reached a settlement agreement with James Russell DeLeon, the principal funder of the fraudulent lawsuit against Chevron in Ecuador. Chevron brought claims against DeLeon in Gibraltar, where DeLeon maintains a residence, for his role in funding and advancing the fraudulent lawsuit. In the settlement, DeLeon has resolved those claims by withdrawing financial support from the Ecuador litigation and assigning his interests in the litigation to Chevron. Chevron, in turn, has agreed to release all claims against DeLeon. . ——————————————————————————- BANGKOK, Thailand, April 3, 2015 – Chevron Thailand Exploration and Production, Ltd. (Chevron Thailand), today announced a $30 million commitment to create the Thailand Partnership Initiative (TPI), a five-year program to strengthen Thailand's competiveness and innovation by improving science, technology, engineering and mathematics (STEM) education and vocational education across the country. ———————————————————————— Chevron Share price at 10th April = $ 106.91 ___________________________________________ Your Pension Don’t forget any pension queries, address changes or bank changes, should be advised to The Chevron UK Pension Team, Aon Hewitt Scanning Division P.O. Box 196 Huddersfield HD8 1EG - Freephone 0800 585824 or from outside the UK +44 (0) 117 929 4001 or Email: chevron.pensions@aonconsulting..co.uk You can also check your pension details or access a pension payslip via www.chevronukpension.co.uk and then logging on to your account.

Chevron UK Pensioners’

Association Contact the Treasurer C/o 98 Goshawk Drive CHELMSFORD Essex CM2 8XP Phone: 01245-601451 ———————————————

Fighting for you Helping You

Informing You ————————-- Your Committee Chairman : Alan Higgins (chairman@cukpa.org.uk) Vice Chairman: John Charnock vicechairman@cukpa.org.uk Secretary: Dave Low (secretary@cukpa.org.uk) Treasurer: Dave Poulter (treasurer@cukpa.org.uk) Insight Editor: Dick Marland (editor@cukpa.org.uk) Trevor Jones John O’Donnell Ted Williams Neil Jones Website Editor: Dave Poulter Don’t forget to visit the Association Web site

www.cukpa.org.uk

Insight is edited and Published by

Dick Marland 01889 359802

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We would also like to thank our Newsletter Editor Dick Marland for his sterling efforts during a prolonged house move that necessitated using Wi-Fi from his local MacDonald’s to communicate with the wider world ! As you will see elsewhere in this edition, we have found it necessary to increase Association subscriptions this year. This is the first increase since 2003 and I am afraid we simply cannot put off the ‘evil day’ any longer. Subscriptions are used for bringing the committee together twice a year for meetings, travelling to meetings with the Company and funding the newsletter. It goes without saying that committee members are all volunteers and I would like to thank them all most sincerely for continuing to donate their time so willingly. We hope members will understand this need to increase subscriptions, after such a lengthy period. Over the last several years, the Association has held its AGM in Croydon, for which we would like to thank both Arthur Lyddall and John Donaldson. This year, by way of a complete change, we are in discussion with John Searle, on holding the AGM in Manchester, following the Company lunch. Please watch this space for further news in due course! News has reached us very recently, of the imminent retirement of John Donaldson from his post as Coordinator South. We would like to take this opportunity of thanking John for all his hard work over a number of years and wish him and Gaynor a long and happy retirement. Many thanks John! Finally, please do not hesitate to get in touch with the Association if you feel we can help in any way! All that remains is for me to wish everyone a good summer, most of which of course depends on the weather – let’s all keep our fingers crossed! Alan Higgins

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Retiree Welfare Programme. The vast majority of CUKPA members are already enrolled in the Company's welfare programme. This programme strives through Retiree News and Local Contact Persons (LCP's ) to keep in touch with pensioners by providing annual lunches, local contact and some anniversary gifts. You will of course be aware that times are hard for oil companies at the moment... and all departments are under pressure to make some savings however small. This has meant that, sadly, with immediate effect the official Retiree welfare programme will no longer be sending out gifts to celebrate significant birthdays and wedding anniversaries. An estimated saving of £3000 per annum . Ted Williams Committee Member