Annual Report and Financial Statements 2022/23

09 October 2023

We’ve provided a summary of the key information about the Scheme’s finances for the year to 31 March 2023. This includes how the Scheme has used its money, any changes to how much money is set aside to pay benefits, the type of investments held and the number of members. We encourage members to read this summary because it provides more detail about the financial health of the Scheme.

You can download a copy of the latest Trustee Annual Report and Financial Statements by logging into your pension account on the M&S Pension Scheme Portal. Once logged in, click on “Document Library”, which you’ll find underneath “Scheme Communications”.

We monitor the Scheme’s investments closely. It's normal for the Scheme's assets to go up and down in value from year to year. You can find more information on the change in asset values in the Annual Funding Update, which also shows that the Scheme's finances continue to be in a healthy position.

The Scheme's Investments

As at 31 March 2023, the Scheme's assets were invested as follows:

Scheme investments

Scheme membership

Scheme membership