XPS Administration - IBM Pension Trust

The Bigger Picture

Updated on 26 May 2021

If you have worked for other employers before joining IBM, you will have built up retirement savings in different plan and will also qualify for the State Pension. You’ll want to know how much all your pension savings add up to, as well as how and when you can take them.

Your benefits from other plans

As you approach the end of your working life, it’s time to build a full picture of all your pension savings. A good starting place is to look at any benefit statements that you receive each year as these include valuable information. Your statement should tell you the type of pension you have, what benefits you can expect when you retire and when they will be paid to you.

If you find you have gaps and think you had a pension at the time, you can use the Government’s Pension Tracing Service to get back in touch with the pension provider.

State Pension

Because we are all living longer, the Government is delaying when we receive our State Pension. Also, there is no longer one State Pension age that applies to everyone – it depends on when you were born.

If there's a shortfall in your pension savings

Once you know about all your pension savings and when you will receive the benefits, you may find there is a gap between this and the amount you think you’ll need in retirement.

If you still have a number of years before your planned retirement date, and are still employed by IBM, you have a number of options to boost your savings in the M Plan.

Your contribution options

Your IBM retirement options

To help you find your lost pension(s), go online:

To check your State Pension age, go online:

To get your State Pension forecast, go online:

For more information on the State Pension, please view the factsheet.

Updated on 26 May 2021