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Governance documentation

The Trustee is required to provide you with certain information about your pension savings. This includes information on how the defined contribution (DC) section of the IBM Pension Plan (the 'M Plan') meets governance standards, the costs and charges that apply to your DC pension savings, the investment principles used to manage your pension savings, and how the Trustee has complied with those principles.

The Trustee of the IBM Pension Plan (the Plan) is required to produce an annual chair's statement to describe how certain governance requirements have been met.  This statement covers seven key areas

  • The investment strategy and performance relating to the Plan's default arrangements
  • The processing of core financial transactions
  • Charges and transaction costs borne by members
  • A 'Value for Members' assessment
  • Net Investment returns 
  • Underlying asset breakdown and
  • Trustee 'knowledge and understanding'.

The Chair's Statement (for the year ending 2025)

These illustrations show the effect of costs and charges on an example member's pension savings over a period of time, considering the assumptions set out within document.

The Statement of Investment Principles (SIP) sets out the Trustee's investment strategy, including its investment objectives and the policies that govern how the Scheme's assets are invested.The SIPs for both the IBM Pension Plan  and the I.T. Solutions Pension Scheme (the 'I Plan') are available below.

IBM Pension Plan

This SIP covers the IBM Pension Plan, including the investment principles that apply to the DC section (the 'M Plan'). It also sets out the Scheme's default investment arrangements for DC members.

2025

SIP IBM Pension Plan - 2025

IBM I.T. Solutions Pension Scheme ('I Plan')

2026

IBM Pension Plan

The IBM Pension Plan Implementation Statement describes how the Trustee has implemented the investment principles set out in the Statement of Investment Principles (SIP), including how it has applied its policies on voting and engagement.

The IBM Pension Plan Implementation Statement (for the year ending 2025)

IBM I.T. Solutions Pension Scheme ('I Plan')

The I Plan Implementation Statement sets out how, and the extent to which, the Trustee has followed its policy on voting and engagement.

The I Plan Implementation Statement (for the year ending 2025)

This report has been prepared to comply with the Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations 2021.  The report explains how the Trustee has established oversight and processes to ensure that the IBM Pension Plan's relevant climate-related risks and opportunities are considered appropriately in the day-to-day management of the Plan.

The full reports that apply to the period ending 31 December 2025 can be found below:

Main plan

I plan

The member summaries that apply to the period ending 31 December 2024 can be found below:

 

The full Report and Accounts of both the IBM Pension Plan (Main Plan) and IBM IT Solutions Pension Scheme (I Plan) are posted on the website each year.  If you require copies from prior years, please contact us.

An important and essential part of the Trust's responsibilities is to keep all interested parties up to date. Every year, a Members' Report is produced as an extract of the full Annual Report and Accounts to highlight all the activity within the last 12 months. Each report contains details of any changes - maybe to the Plans or any new members of the Trustee Board - and most importantly, an informative financial report of the Plans' funds.

You can access the new interactive reports via the links below:

Members requiring a printed copy can download a printer friendly version via the links below. These versions contain all the same information but are laid out in the previous format which is more suitable for home printing.

Downloads

A Summary Funding Statement is produced each year, as required by legislation, to provide you with information about the latest review of the IBM Pension Plan and IT Solutions Pension Scheme's funding position and the steps being taken by the Trustee and the Company to protect your benefits.

We hope you find the information useful.

Downloads

The assessment reviews the charges and costs incurred by members of the IBM Pension Plan and the IBM I.T. Solutions Pension Scheme ('the Schemes') with Defined Contribution pension savings to ascertain whether charges represent good value for members relative to peers and alternative arrangements that are available.

Willis Towers Watson has reviewed the Plan’s Defined Contribution fund range and rated it as providing Good Value for members – their highest possible rating – based on investment returns, services, and costs.

Find out more about the Value for Members assessment.

Chair's Statement & Illustration of Costs and Charges

The Chair's Statement

IBM Chair Statement (for the year ending 2024)
The Chairs Statement (for the year ending 2023)
The Chairs Statement (for the year ending 2022)
The Chairs Statement (for the year ending 2021)
The Chairs Statement (for the year ending 2020)

Illustration of costs and charges

Statement of Investment Principles

Implementation Statement

Climate Change-related Disclosures Report

Report and Accounts

Members' Reports

 

Summary Funding Statements

Value For Money Assessment