Message from Graham Oakley - Coronavirus Update

18 March 2020

Dear Members,

You’ll have no doubt been following the news about coronavirus (COVID-19). On behalf of the Trustee, I would like to update you on what we’re doing to manage the M&S Pension Scheme during this period of uncertainty.

Our priorities remain making sure that pensions are paid on time, monitoring the performance of the Scheme’s investments and keeping a close eye on the Company’s ability to support the Scheme into the future, whilst continuing to manage the Scheme in the best interests of its members.

It’s important to remember that the assets of Scheme are held completely separately from M&S plc and the Scheme is well-funded.

The Trustee has a number of professional experts experienced in working together during unexpected circumstances and providing the advice we need to keep things moving. We also have a Trustee Executive Team that closely oversees the day-to-day management of the Scheme, responds quickly to developments and keeps the Trustee regularly up to date.

We’ve put together a Q&A, which provides more detailed information and will be updated if anything changes.

The Pension Administration Team helpline is well-equipped to answer any queries about your pension in the coming weeks and months. However, we ask members to consider whether your query is urgent and if it could be answered by email, through the website or within your pension account on The M&S Pension Scheme Portal.

These are challenging times, but I hope this gives you some peace of mind.

Best wishes,

Graham Oakley

Q&A - Managing the impact of Coronavirus (Updated 01.06.2020)

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