Message from Graham Oakley, Chair of the Trustee.

The M&S Pension Scheme is an important benefit that was offered to employees of M&S to provide future financial security and reward their service with the Company. Those of us who run the Scheme recognise the value of that benefit for members and the security it offers. For this reason, we take our roles as Trustee Directors very seriously.

The Trustee Directors are the group of people who have overall responsibility for making sure that the Scheme functions as it should. This includes making sure that funds are used properly, the administration service is well-run and, most of all, that pensions and benefits are paid correctly and on time.

The Trustee Directors make up the Board of the Trustee Company – normally just called the Trustee. As Chair of the Trustee, I provide the leadership needed to make sure that the Board can run the Scheme effectively and pay benefits.

The Board is made up of committed and responsible individuals, all of whom bring their skills and experience to help run the Scheme in the best interests of members. We know that it’s important to members to receive the pension they were expecting in a timely way, and this is the outcome we’re looking for in all the work that we do. How the Scheme is governed, including its investments, risk controls and administration system are all important factors in this and closely monitored by the Trustee.

To help us in our governance of the Scheme, we make use of expert professional advisers and dedicated administration and support teams. More recently, it has become clear that pension funds have a crucial role in environmental, social and governance (ESG) progress and I want the M&S Pension Scheme to be a leading example in the industry. You can read about our ESG work in the sustainability section of the site.

It's important for members to remember that the Trustee, and your benefits in the Scheme, are independent of M&S. As the sponsoring employer, M&S has a duty to provide any funds required to make sure that the Scheme continues to pay pensions as they become due. Although we run the Scheme independently, we need to work together to agree certain decisions.

The rest of this section provides you with more detail about the Trustee Directors, the teams and people that support them, and how we run the Scheme together. I trust it will show that your pension is well-looked after today and give you confidence that it will provide for your future tomorrow as planned.

Graham Oakley
Chair of the Trustee

Meet the Trustee.

There are nine Trustee Directors, who are all equally responsible for the Scheme and must act prudently, responsibly, honestly, impartially, and always in the best interests of all members. All Trustees must understand how the Scheme works, the investments it holds and the laws around pensions. They work together to make sure the Scheme is well-governed and members are kept informed about their pension.

There are different types of Trustee Director, which makes sure that the Trustee Board has the right mixture of skills and experience to act in the best interest of members.

  • The Chair leads the Trustee Board and is appointed by M&S.
  • Three Company-Nominated Trustee Directors are nominated by M&S and appointed by the Trustee.
  • Three Member-Nominated Trustee Directors are members of the Scheme who are nominated by other members and appointed by the Trustee.
  • Independent Trustee Directors are independent experts appointed by the Trustee and M&S.

Meet the current Trustee Directors

Member-Nominated Trustee Directors.

Member-Nominated Trustee Directors (MNTDs) are Directors who are also members of the M&S Pension Scheme. MNTDs have the same responsibilities as the other Directors but provide a member’s perspective and voice on the Trustee Board. All Scheme members can apply to be an MNTD, other than those receiving a spouse or dependant’s pension. MNTDs normally serve for five years on the Trustee Board and applications must be supported by three other M&S Pension Scheme members. When there is a vacancy for an MNTD position, more information and an application form will be provided on this website.

Who supports the Trustee.

The Trustee receives day-to-day support in managing the Scheme from the Trustee Executive Team and M&S Colleague Services. The Trustee has also appointed specialist advisers to help with managing the Scheme including the Scheme Actuary, Investment adviser, Legal adviser and Auditor.

Find out more