IBM Pension Plan - investment changes

Chair of the Trustee Board Video

Hello, I’m Robert Tickell, Chair of the Trustee for the IBM Pension Plans and I’d like to tell you about some changes the Trustee is making to your investment options.

Part of the Trustee’s role is to deliver a pension plan that offers value for money and provides investment options aligned with the retirement preferences of most members.

Following an extensive review of our membership, advice from our investment advisers, and member feedback, the Trustee is making some key changes to the Lifecycle strategies as well as updating the Freestyle fund range.

So, if you are invested in a Lifecycle 2020 strategy, these will close in July, and you will be moving to newly created Lifecycle strategies. These new Lifecycle strategies seek to place greater emphasis on generating long-term investment returns and align more closely with how the Trustee anticipates most members will draw on their pension savings at retirement.

The Trustee will also be updating the self-select Freestyle fund range by closing down some existing funds and introducing some new Freestyle fund options. The new range provides a broader selection of asset classes whilst also streamlining options to simplify and support members in making investment choices.

So, If you are currently invested in one of the Freestyle funds which are due to close in July, your investments will also move to an alternative Freestyle fund.

There’s a dedicated webpage where you can find out more information about the changes and where you can get answers to some commonly asked questions and of course also where you can send in any queries that you may have.

What next? Well, first, I’d encourage you to check where you’re currently invested, as well as your target retirement age. To do this, please log into Manage Your Account either on a computer or via L&G’s mobile app.

Secondly, find out how the changes the Trustee is making will impact you – this is all covered in the dedicated website, alongside details about how to seek independent financial advice should you want it.

Thank you very much for listening.

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