Governance documentation
The Trustee is required to provide you with certain information about your pension savings. For example: how the defined contribution (DC) section (the 'M Plan') of the IBM Pension Plan is meeting certain governance standards, costs and charges information for your DC pension savings, the investment principles governing the way your pension savings are managed, and how the Trustee has followed these investment 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'.
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 in section 4.18-4.21 of the 2023 Chair's statement.
The Statement of Investment Principles (SIP) is a written document of the principles governing investment decisions, and since 2019, comprises two separate documents:
- A Statement of Investment Principles providing the broader framework of the principles governing decisions about investment of the Plan's assets, and;
- An 'Investment Policy Implementation Document' (IPID) which details the day-to-day implementation of the investment policy.
The SIP for both the IBM Pension Plan (including the DC section of the IBM Pension Plan) and the I.T. Solutions Pension Scheme (the 'I Plan') are shown below:
IBM Pension Plan
This SIP for the IBM Pension Plan includes details of the investment principles surrounding the DC section ('M Plan') of the IBM Pension Plan. This SIP also includes details of the DC default investment arrangements.
2023
SIP IBM Pension Plan - 2023
IPID IBM Pension Plan -2023
IBM I.T. Solutions Pension Scheme ('I Plan')
2023
IBM Pension Plan
The IBM Pension Plan Implementation Statement describes how the Trustee has put into practice the investment principles (set out in the SIP), including how the Trustee has followed its policy on voting and engagement.
The IBM Pension Plan Implementation Statement (for the year ending 2023)
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 2023).
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 Trustee has compiled useful infographic summaries of the reports:
- Infographic summary for the IBM Pension Plan (DB section)
- Infographic summary for the IBM Pension Plan (DC section)
- Infographic summary for the IBM IT Solutions Pension Scheme
The full reports that apply to the period ending 31 December 2023 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, a comprehensive financial report of the Plans' funds.
You can access the new interactive reports via the links below:
- 2022 IBM Pension Plan - DB Section - Interactive Report
- 2022 IBM Pension Plan - DC Section - Interactive Report
- 2022 IBM IT Solutions Pension Scheme - Interactive Report
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.
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.
Mercer has assessed the Schemes' fund range as offering 'GOOD VALUE' for members in terms of price, performance and productivity; this is Mercer's highest rating.
Find out more about the Value for Members assessment.
This section contains governance documentation for prior years.
Chair's Statement & Illustration of Costs and Charges
2022
The Chair's Statement (for the year ending 2022) can be found here
Illustration of costs and charges
- Active member assumed to be making contributions into their pension pot.
- Deferred member no longer making contributions into their pension pot.
- Member of the DSL Plan.
2021
The Chair's Statement (for the year ending 2021) can be found here
2020
Statement of Investment Principles
- SIP IBM Pension Plan - March 2023
- IPID IBM Pension Plan - March 2023
- SIP IBM Pension Plan - 2021
- IPID IBM Pension Plan - 2021
- SIP IBM I.T. Solutions Pension Scheme - March 2023
- IPID IBM I.T. Solutions Pension Scheme - March 2023
Implementation Statement
Climate Change-related Disclosures Report
- Infographic summary for the IBM Pension Plan (DB section) - 2022
- Infographic summary for the IBM Pension Plan (DC section) - 2022
- Infographic summary for the IBM IT Solutions Pension Scheme - 2022
- Infographic summary for the IBM Pension Plan (DB section) - 2021
- Infographic summary for the IBM Pension Plan (DC section) - 2021
2021 Full Report - IBM Pension Plan
Report and Accounts
- IBM Pension Plan 2021
- IBM IT Solutions Pension Scheme 2021
- IBM Pension Plan 2020
- IBM IT Solutions Pension Scheme 2020
Members' Reports
- IBM Pension Plan - DB Report - 2021
- IBM Pension Plan - DC Report - 2021
- IBM IT Solutions Pension Scheme - 2021
- IBM Pension Plan - DB Report - 2020
- IBM Pension Plan - DC Report - 2020
- IBM IT Solutions Pension Scheme - 2020