PLUSIn the news

Pensioner myth

Show me the moneyThe Scheme’s accounts to 31 March 2011

The people at the helmGetting to know the Scheme’s Trustee Chairman and Investment Committee Chairman

Bonjour ParisM&S across the Channel

Issue 13, Autumn 2011

Keeping in touch

The magazine for retired members of the M&S Pension Scheme DB Section

Ooh la la!Shopping – it’s what ladies do best and we’ve joined this edition’s cover girls, Julie, Denise and Sue on a shopping trip in London...

2 Pensions Update Issue 13, Autumn 2011 3

On our radarThings never stand still with pensions, and the last six months have been no exception – this is what’s been on our radar...

Bonjour Paris p12As M&S prepares to return to Paris after an absence of 10 years, we compare the pension statistics from here and across the Channel.

Keeping in touch p5It’s always great to hear what former employees have been up to, so we’re pleased to be able to include some of your news in this issue. We get a real mix of letters so turn to page 5 to see if any of your friends are featured!

Welcome to the second Pensions Update of 2011. I’ve settled into my new role as Chairman of the Trustee – if you turn to pages 16 and 17 you can find out a bit more about what I get up to.

Graham Oakley Chairman of the Trustee

The people at the helm p16They work hard all year round to help run the Scheme, but who are they and what do they do – turn to pages 16 and 17 to find out.

In the news

Keeping up with Plan AReduce paperHelp us to do the right thing and contribute to Plan A. M&S’ aim is to become the world’s most sustainable major retailer – climate change and waste are two of our commitments and it’s not just about what can be done in stores. By reducing the amount of printed communications the Scheme sends out to members, we can contribute to Plan A and save the Scheme money. With this aim in mind Pensions Update is now available online. Some of you have already signed up to the online version – for those of you who haven’t, all you need to do is go to www.mandspensions.co.uk to register your email address and next time you’ll receive an email and link to the online Pensions Update.

You’ll find news from the Scheme and the world of pensions in this section – it’s always good to know what’s coming up.

4 Pensions Update Issue 13, Autumn 2011 55

In the news cont...

Member-nominated trustees soughtThe Scheme will have vacancies for member-nominated trustees to join the Trustee Board in 2012. We’ll send you more information later in the year.

Your Summary Funding StatementYour annual Summary Funding Statement is enclosed with this edition of Pensions Update – it provides you with important information about the funding of the Scheme so please take the time to read it.

Administration reviewIn the last six months in line with good practice we have undertaken a review of all administration processes and associated communications to make sure the Scheme is being run in the best way possible and in accordance with the Trust Deed and Rules.

And in the other news...Trustee commitment

The UK Stewardship Code was published in July 2010. It aims to enhance the quality of engagement between institutional investors, like pension funds, and companies, in turn improving the long-term returns to shareholders. It also aids the efficient completion of governance responsibilities. It does this by setting out a guide to good practice about engagement with investee companies to which the Financial Reporting Council (FRC) believes institutional investors should aspire.

In 2010, the Scheme signed up to the United Nations Principles for Responsible Investment (UNPRI) and in 2011 signed up to the FRC Stewardship Code. In order to comply with the Stewardship Code the Trustee must publish its voting and engagement activity with investee companies. You can find more information at: http://corporate.marksandspencer.com/investors/pensions_governance/information.

M&S looking after the Scheme

Earlier in the year the Company established a Pensions Governance Committee to ensure that the Company pension arrangements continue to be monitored and reviewed on an ongoing basis. The Committee consists of senior M&S staff from HR and Finance and a key part of its role is to liaise with the Trustee about the management of the M&S Pension Scheme.

State Pension Age increases

The article in the May 2011 Pensions Update highlighted that some members may be affected by the proposed Government changes to the dates they might receive their State Pension. This is because the Government is increasing the State Pension Age over the coming years. These members should now have received letters explaining how they personally are or will be affected by the changes.

We’re always pleased to receive so many of your wonderful letters and hear what you’ve been up to – thank you to everyone who has written in so far. In fact we’ve received so many letters since the last edition we don’t have room to include them all.

For those not included this time, look out for your letters in 2012. So that we can include the letters we’ve already received, please don’t send anymore for the time being – we’ll let you know as soon as we can start receiving them again. Here are some of your stories this time…

Keeping in touch

East Dorset RSA help our war heroesThe photograph above shows Mrs Margaret Firth (chairman of the RSA) presenting a cheque to the Heroes Haven in Swanage in February this year. The idea behind the charity is to raise enough money so that a log cabin complete with specialist equipment can

be built for soldiers who have lost limbs in battle – a place to holiday which caters especially for them. The East Dorset RSA has 165 members who raise money each year (aiming to donate £1,000 a year) for local charities. Well done East Dorset RSA and keep up the good work!

Prostate MarksmenFour ex-Royal Marines will attempt to row the fastest ever four-man crossing of the Atlantic from the Canary Islands to the Caribbean in December this year. Graham Witham works for M&S and is a member of the Scheme, along with his three friends, Aldo Diana, Ken Maynard and Jason Howard-Ady, they will set out on a quest to raise money for The Prostate Cancer Charity. At the time of going to print they’d raised £33,455, but they have a target of £75,000 and there’s still time to donate – just go to www.justgiving.com/prostatemarksmen. You can also find information about their training and progress with the cause at www.protstatemarksmen.com.

6 Pensions Update Issue 13, Autumn 2011 77

It seems many of you were inspired by our wedding cover story in the last edition – Sue Ullah emailed us to tell us about her marriage to Farid. Sue met Farid when she was just 11 years old and he was 13. They were part of a group of friends who would play together, but when Farid’s mum died, Farid and his family moved back to East Pakistan. They stayed in touch by letter until Farid returned to the UK – their friendship lasted the test of time and distance and they began courting at age 14 and 16 respectively. Five years later they were married and in the following years they went on to have two children. Now retired, they have four grandsons to keep them feeling young and active. Throw into the mix 39 years of marriage and 36 years working for M&S and it makes for a pretty impressive story. Thank you for getting in touch Sue!

Vince MorrisseyLast time we featured Vince Morrissey – he’d written to tell us about the awards he’d won for his singing at the Croydon Music Festival. Unfortunately we printed his name incorrectly as Vince Morrison and cut out the awards from his photograph. We’d like to apologise to Vince for the errors and have printed his picture here again showing his awards.

The perfect fairytale love story?

Four members of the in-house pensions team recently took on the Fidelity 10 Peaks challenge to raise funds for the Mitchemp Trust. The charity aims to reach vulnerable children and improve their long term prospects by introducing them to a two year outdoor adventure programme. It was a great cause to motivate the team through the highs and lows of a tough physical challenge over the Welsh Brecon Beacons and they raised a fantastic £7,000! Well done!

10 peaks challenge

The wife of John McCay, Dorothy, wrote to us to share some of the highlights of Ernest’s life who passed away in 2010 and to dedicate a poem to his memory:

No more to gently take my hand In times of trouble soothe my brow No more life music both understand Perhaps we loved too well For all at once is ceased.

Ernest certainly kept busy over the years. Here are some of his highlights:

• Met Sir Simon Marks

• Played cricket with Sir Leary Constantine

• Escorted Sir Alexander Fleming by RAF plane to the Royal College of Surgeons in Norway

• Was twice invited to the Queen’s Garden Party – on the first occasion he had a private conversation with the Queen where he talked about his service with the RAF and M&S

• His funeral was attended by 60 people who contributed £400 to charity

Other letters...In the last edition we published a poem written by Dot Hayley – ‘Goodbye RSA’. Sadly Dot passed away before Pensions Update was issued and so did not see her poem in print. Brenda Ellam emailed to let us know of Dot’s passing and to express how much she will be missed by all her friends and family.

Ernest John McCay

98 Pensions Update Issue 13, Autumn 2011

Ooh la la!COVER FEATUREMeet life-long friends Sue, Julie and Denise

On the cover in this edition is Julie Noble with her two good friends, Denise Barry and Sue Castle. The trio met over 30 years ago whilst working at the Head Office, Baker Street. They have remained friends since, even holidaying together with their families.

We think they look fabulous in these snaps of them shopping at London’s Westfield Shopping Centre.

Denise and Sue took their M&S pensions early at age 50, but Julie is waiting for the right time to take hers. Here’s what they told us about their retirement decisions:

Julie: I worked for M&S for around 10 years before leaving to start a family – I kept in touch with Sue and Denise and over time our families also became friends. I’m now working full-time in a school so I’m happy to hold off taking my pension just yet. Maybe when I stop working altogether I’ll also take my pension. I think it’s great that all those years ago (we all met over 30 years ago), we joined the Scheme

not really thinking about it, and now we can reap the rewards. I’m really proud of my M&S pension!

Sue: I worked for M&S for 10 years then left to have my two daughters. After receiving a letter from M&S I decided to take my pension from age 50 – I bought a car with the lump sum and I’m living life to the full with my monthly amount! We’ve had a lot to celebrate in the last two years – I turned 50, our 25th wedding anniversary, my daughter’s 21st, our daughter’s wedding, plus weekends away and holidays, so the extra money has come in very useful! My husband and I are still young, fit and healthy so we decided that we should enjoy the money now rather than later when we might not be in such good health.

Denise: I also worked for M&S for 10 years and left to start a family. At the age of 50 I was pleasantly surprised to find out that I was entitled to draw my M&S deferred pension – I used the money to pay a lump sum towards my mortgage and my monthly pension also now

contributes to the mortgage repayments so it’s really come in useful. I think it’s great that M&S looks after its employees and former employees so well.

Sharing yet another experience with my friends

has been fantastic – if it hadn’t been for M&S we’d never have met and M&S

is still looking after us now! Julie Noble

From left to right: Sue, Julie & Denise

10 Pensions Update Issue 13, Autumn 2011 11

In this section you’ll find a brief summary of the key financial figures taken from the Scheme’s Report and Accounts for the year to 31 March 2011, showing the Scheme’s income and expenditure (the contributions and cash paid into, and benefits paid out of the Scheme).

If you would like to see a copy of the full Scheme accounts, please contact the Pensions Team at Salford Quays.

Income £’000M&S contributions 44,298Deficit funding 494,294Members’ Additional Voluntary Contributions (AVCs) 719Ex-gratia contributions* 239Investment income 161,408Change in market value of investments 233,183Total income 934,141Expenditure £’000Benefits paid 228,552Leavers 4,018Administration and investment expenses 17,674Total expenditure 250,244

*Ex-gratia contributions are paid into the Scheme by M&S to cover any exceptional benefits (for example, redundancy).

Show me the money

Investment of Scheme’s AssetsAs at 31 March 2011 the Scheme’s assets were split as follows:

£4,943.6m1 April 2010

£5,627.5m31 March 2011

£683.9mIncrease in fund value

Value of the Scheme’s assets

2010 2011Active members 15,327 14,471Deferred members 56,197 55,909Pensioners 50,470 50,808Total 121,994 121,188

Fixed interest investments are effectively loans to different bodies, be it companies or governments, which pay you a regular income in the form of interest for a set period of time, after which your loan must be repaid.

Equities are shares (or ‘stock’) in companies. In the past they have grown in value more than bonds, gilts or cash over longer periods. However, they can go up and down in value, sometimes significantly.

Alternative investments are a product other than the traditional investments of equities, bonds, cash, or property. The term is a relatively

loose one and includes tangible assets such as art, wine, antiques, coins, or stamps and some financial assets such as commodities, private equity and hedge funds.

Property invests in a combination of UK and overseas property (retail, office and industrial but not residential) and property-related securities.

Other investments include non-manager specific residual cash balances and the mark-to-market value of the Scheme’s strategic passive foreign currency hedge.

MembershipThe Scheme’s membership for 2010 and 2011 was:

Asset class % allocation

Fixed interest 70.5

Equities 19.4

Alternatives 6.5

Property 3.3

Other 0.3

1312

Bonjour Paris

Taking its place alongside some of France’s biggest names, including Louis Vuitton and some of the finest hotels and restaurants in the world, the store will provide a touch of British tradition to the French capital selling the clothing, home ware and food we’re all so fond of here in the UK.

Earliest retirement age (State schemes)

Women MenFrance 62 62UK 60-65 depending on age 65

Normal retirement age (State schemes)

Women MenFrance 67 67UK 60-65 depending on age 65

The State Pension Age in the UK will increase to age 68 for men and women by 2046. This is to be done in stages.

Earliest retirement age (work schemes)

Women MenFrance 60 60UK 55 55

Average duration of retirement

Women MenFrance 26.5 years 21.8 yearsUK 24.5 years 16.9 years

Average life expectancy

Women MenFrance 87 82.3UK 84.5 81.9

Percentage of people working after retirement age

Age 65-69 70+France 1% 0%UK 10% 2%

After a 10 year absence M&S is preparing to return to Paris with the opening of its flagship French store on one of Paris’ most desirable shopping boulevards – the Champs Elysées.

We thought we’d use this as an opportunity to compare some pension stats from here in the UK, to those across the Channel. Here’s what we found out...

Source: www.oecd.org/dataoecd/39/22/47572947.pdf

WOMENSWEAR Hat £19.50 Limited Collection jacket £120 Belt £5 Skirt £99 Tights £3.50 Shoes £49

14 Pensions Update Issue 13, Autumn 2011 15

Get involved!

Would you like to appear on the cover of the next Pensions Update?

If you have a story to tell, or want to let us know what you think of the pension you receive from the Scheme, then contact us. Send us your thoughts, and if we decide to include them, next time it could be you on the front cover!

Get in touch with Laura Pritchard at Head Office:

Email: laura.pritchard@marks-and-spencer.com Address: Marks and Spencer plc, Waterside House, 35 North Wharf Road, London, W2 1NW.

It could be you

15

MythOlder people have nothing to contribute to society.

RealityIn the UK three out of every 10 people aged over 65 volunteer – that’s three million people! There are organisations which help to co-ordinate older volunteers such as the Retired and Senior Volunteer Programme and REACH. Older people often have a wealth of skills and experience and so find they’re actually in demand.

Pensioner mythWe explore the myths, rumours and gossip about pensioners and bring you the facts behind the fiction.

“Sharing yet another experience with my friends has been fantastic – if it hadn’t been for M&S we’d never have met and M&S is still looking after us now!” Julie Noble

Source: www.ageukcheshireeast.orgFrom left to right: Denise, Julie & Sue

1716 Pensions Update Issue 13, Autumn 2011

Every team needs a leader and we have two to quiz in this edition – Graham Oakley, new Chairman to the Trustee Board and Gareth Derbyshire, the new Company Nominated Independent Trustee who will also be Investment Committee Chairman. Here, they tell us a bit about what part they play in running the Scheme and what the key challenges facing the Scheme will be in the next year.

Tell us a bit about yourself...

Graham: I’m a solicitor by training and spent 25 years at M&S retiring in 2009 as Company Secretary, Chief Legal Adviser and Head of Corporate Governance. I am married with two daughters and live in rural Wiltshire with a few animals.

Gareth: I spent over 10 years in investment banking and prior to that worked as an investment consultant to pension schemes like the M&S Pension Scheme.

What do you get up to in your spare time?

Graham: I’m addicted to sport, preferring to watch rather than participate, although I still enjoy a competitive game of tennis.

Gareth: Travel, rock music (mainly 70s and 80s) and supporting Wrexham FC.

Graham, what kind of responsibility comes with being the Trustee Chairman? How did your role at M&S equip you for this role?

As Trustee Chairman I am ultimately responsible for the performance of the Trustee Board which has

the very important task of ensuring that everyone’s promised pension is paid out to the last penny to the last surviving member. Having spent 12 years sitting with the M&S board I have observed directly different leadership techniques to which I can add my own style.

Graham, what makes a good trustee board?

A good trustee board is one where there is a proper balance of both professional and personal skills. Mutual respect for those complementary differences is important as is a common thirst for knowledge. An absolute commitment to protection of members’ earned benefits is vital but there is also room for occasions of humour which is part of good team development.

Any team needs great support to succeed and we are fortunate in having a first class in house pensions function without which our task as part timers would be impossible.

Graham, has the role of a Trustee changed since you became one in 2006?

In recent years the role of

the Trustee has changed unbelievably. In the past many schemes had the benefit of fund surpluses and relatively straightforward investment strategies. Now most schemes have deficits and the relationship between the Trustee and the Company has become more formal and adheres to the principles of good governance. In that same period investments have become more complex. Liabilities have grown and companies have had to cope with the financial downturn. Trustees need to be more active, become more knowledgeable, more robust, and give more of their time than they did in the past.

What do you think the key challenges for the Scheme will be in the next year or so?

Graham: People living longer – a good thing for all of us but expensive for schemes. However, we are aware of this and plan the finances and investments accordingly.

Further financial crisis fallout leading to market volatility – we need to reduce the impact of this to an acceptable level whilst still getting a decent return on investments.

Agreeing the next valuation with the Company for 2012 and any associated recovery plan.

Gareth: I can think of plenty of reasons why markets could continue to be volatile. We want to make sure we get the benefits if things go well, without taking too much risk in case things go badly. Getting the balance right is tricky, since none of us has a crystal ball – investment is only easy in hindsight!

Gareth, what kind of responsibility comes with being the Investment Committee Chairman, and an Independent Trustee?

As a Trustee, I’m conscious of how many people rely on the Scheme for their current and future financial wellbeing. A big part of my role is around more complex investment matters. As Chair of the Investment Committee, it’s also my job to make sure that meetings run smoothly whilst ensuring that everything on the agenda is given proper attention.

Gareth, how have DB pension scheme investment strategies changed since you came into the business?

Beyond recognition. Back in the 80s it was normal to give all a scheme’s assets to one or two managers and let them get on with it. There was very little benchmarking of performance and most schemes had very high equity allocations. It’s a different world now.

Gareth, your previous roles were in investment banks – how will this help with your role?

Nowadays, investment banks come up with lots of ideas aimed at pension funds. Some are good, others are not. Many of them are very complex. Having been on the other side of the fence, I should be well placed, along with our consultants, to really understand these products and how much the banks are charging for them.

The people at the helm

Graham Oakley

Gareth Derbyshire

18 Pensions Update Issue 13, Autumn 2011 19 20

Notices We are sorry to announce the death in retirement of your former colleagues, notified to us between March and August 2011.

Aberdeen Maria Buchan Apr ‘11Winifred Mitchell Aug ‘11

Aberdeen W/H Elizabeth Crawford Mar ‘11Absence Retirement Margaret Healy Apr ‘11Altrincham Edna Southern Aug ‘11Andover Phyllis Brown May ‘11Ashton Mary Routledge Apr ‘11

Lilian Keeling Jul ‘11Aylesbury James Webster Jul ‘11Banbury Marion Washbourne Jan ‘11

Pauline Davies May ‘11Barking Hazel Riley Jul ‘11Barnsley Ron Hatch Jul ‘11

Rosalie Turton Jul ‘11Basildon Ruby Smith Mar ‘11

June Sims Apr ‘11Bath Joan Cross Apr ‘11

Annie Hall Apr ‘11Valerie Lucking Jul ‘11

Beckenham D.C. Leslie Bartlett Jan ‘11Ruby Marsh Apr ‘11

Bedford Mary Bowerman Jun ‘11Belfast Thomas McCormick Jun ‘11

Matilda Vincent Jul ‘11Bexleyheath Mary Reeves Apr ‘11

David Hughes Jun ‘11Birkenhead Dorothy Peacock May ‘11Birmingham Winifred Wright Feb ‘11

Marjorie Smith Apr ‘11Blackburn James Shepherd Jul ‘11Blackpool Eric Felstead Mar ‘11

Linda Walker Jul ‘11Anne Dobie Aug ‘11

Bognor Regis Renee Ambler Mar ‘11Bolton Joan Cunliffe Jun ‘11Brent Cross Darrell Davis Mar ‘11

Genevieve Shovlin Apr ‘11Brentwood Marion Norfolk Jun ‘11Brighton W. Jane Corpe Mar ‘11

Patricia Thomas Apr ‘11Margaret Torres Jul ‘11

Bristol Ivor Edwards Jul ‘11Jacqueline Webber Jul ‘11Dorothy Hopkins Jul ‘11William Jenkins Jul ‘11Annette Giles Jul ‘11

Bromley Joan Harvie May ‘11Burton On Trent Mavis Rice Mar ‘11Buxton Mary Belfield Feb ‘11

Florence Vaines Apr ‘11Camberley Elizabeth Charsley Apr ‘11Cambridge Pamela Ward Jun ‘11Camden Town Lucienne Saunders Apr ‘11

Assunta Gamble Jun ‘11

Canada Patrick Murphy Mar ‘11Cardiff Isabella Conde Apr ‘11

Eileen Phelps May ‘11Janice Crowley Jul ‘11

Carmarthen Gwendoline Brundrett Mar ‘11Chatham Janice Smart Jun ‘11

Avril Mathieson Jun ‘11Chelmsford Carol Gillett May ‘11Cheltenham John Crannage Jun ‘11

Rosemary Hitchman Aug ‘11Cheshunt Michele Goddard Mar ‘11

Muriel Davison Jul ‘11Chester Margaret Ward Feb ‘11Chesterfield Yvonne Nutt Mar ‘11

Barbara Fretwell Aug ‘11Chichester Constance Vanags Mar ‘11

Rosemary Wilson Apr ‘11Chiswick Janet Davis Apr ‘11Cirencester Ann Cutler Aug ‘11Clapham Jack Palmer Jun ‘11

Alice Russell Aug ‘11Colchester Marie Rogers Mar ‘11

Sylvia Botham May ‘11Crewe Valma Carter Feb ‘11

Barbara Glover Mar ‘11Margaret Emerson Jun ‘11

Croydon Daphne Winkley Jul ‘11Elizabeth Westfold Aug ‘11

Culverhouse Cross Shirley Thomas May ‘11Cwmbran Lynda Morgan Mar ‘11Dewsbury Irene Andrew Aug ‘11Douglas ( Old Store) Brian Mayo Mar ‘11Dover Doreen Pickett Aug ‘11Dudley Eva Hayes Apr ‘11

June Marks Jul ‘11Dunfermline Edwin Morgan B.E.M. Apr ‘11Dunstable D.C. Mavis Burch Mar ‘11Durham Dorothy Rayner Jun ‘11East Ham Eileen Crouch Aug ‘11East Kilbride May McCaig Mar ‘11

Rebecca Thomson Jun ‘11Eastbourne Margaret Kenward Mar ‘11

Grace Staden May ‘11Edgware Road Annie Corrigan Jun ‘11Edinburgh Jessie Young Mar ‘11

Isabella Munro May ‘11Margaret Maclaren May ‘11Margaret Smail Jul ‘11

Eltham Ivy Barber Mar ‘11Marcel Allen Apr ‘11Thelma Taylor Jun ‘11

Enfield Daisy Lowe Apr ‘11Paul Ennin Jul ‘11

Exeter Dorothy Batten Feb ‘11

Exeter cont. Joan Brown May ‘11Falkirk Kathleen Gibb Apr ‘11Falmouth Oliver Selwood Jun ‘11Fulham Norma Linscott Jun ‘11Gemini Kath Lester Jun ‘11Gillingham Julie Guile Jun ‘11Glasgow Argyle St. Hannah O'Donnell Feb ‘11

Mary Sharp Apr ‘11Jeanne Mackie May ‘11

Glasgow Kathleen Yuille Dec ‘10Sauchiehall St. Catherine Humphrey Mar ‘11

Beatrice Campbell Apr ‘11Sarah Hannah May ‘11Elizabeth White Jul ‘11

Gloucester Norman Miller May ‘11Marcia Hands Jun ‘11

Grantham Maureen Craft Apr ‘11Joseph Cavanagh May ‘11

Gravesend Daisy Ayres Jul ‘11Grays Doris Abel May ‘11Grimsby Percy Kingston Mar ‘11Guildford Patricia Webb Mar ‘11

Patricia Beight Jun ‘11Halifax Gladys Palmer Mar ‘11Hamilton Shirley Easton Mar ‘11

Anne Mcquade Mar ‘11Catherine Struthers Jun ‘11

Hammersmith Peggy Nolan May ‘11Queenie Clifford Jun ‘11

Harrogate Phyllis Hobbs Apr ‘11Anne Newman May ‘11

Harrow Bette Smyth Jul ‘11Dorothy French Aug ‘11

Hastings Joyce Cornford Jun ‘11Head Office Josephine Hickey Apr-06

Catherine Gregory Jan ‘11Peter King Feb ‘11Vera Crawfurd-Porter Mar ‘11Sharon Gaudio Mar ‘11Carole Davies Mar ‘11Susan Hughes Mar ‘11Shirley Wilson Mar ‘11Olive Hughes Apr ‘11Jean Smith May ‘11Janet Harding May ‘11John Preston May ‘11Robert Wood Jul ‘11Rocchina Russo Jul ‘11Linda Howell Jul ‘11Jean Beaumont Jul ‘11Paul Taylor Aug ‘11Kenneth Atkinson Aug ‘11

Head Office ChauffeursDavid Lewis May ‘11Hemel Hempstead Leslie Cairns Aug ‘11Hereford Marjorie Bicker Mar ‘11High Wycombe Dorothy Dicker Jan ‘11

Erica Barry Feb ‘11Holloway Road Lilian Grier Mar ‘11Huddersfield Sandra Woolley Mar ‘11

Huddersfield cont. Betty Mellor Jul ‘11Hull Marion Metcalfe Jun ‘11Ilford Pamela Chumbley Mar ‘11

Marie Steel Jul ‘11Marion Cater Jul ‘11Rita Harmond Jul ‘11

Inverness Davina Maclennan May ‘11William McEwan Jun ‘11

Islington Peggy Taylor Apr ‘11Muriel Gummer Aug ‘11

Keighley Isabella Dowling Jul ‘11Kendal Raymond Wise Jun ‘11Kilburn Maud James May ‘11Kilmarnock Jean Hume Apr ‘11

Jean Harris Jun ‘11Kings Road Michael Cahill Aug ‘11Kingston Freda Taylor Mar ‘11

Elizabeth Naish Jun ‘11Sylvia Howland Jul ‘11

Lancaster Annette Wells Feb ‘11Leeds Shirley Wynne Mar ‘11

Herbert East May ‘11Edna Marshall Jun ‘11Margaret Dowson Jun ‘11Joan Hollings Jul ‘11Jean Wood Jul ‘11

Leicester Grace Galtress Mar ‘11Irene Mitchell Jun ‘11

Lewisham Jennifer Snelgrove Dec ‘10Lincoln Helen Christopher Mar ‘11

William Brown May ‘11David Smith May ‘11

Lingerie Nightwear Myrtle Berry Aug ‘11Liverpool Eileen Burton Dec ‘08

Mary Monaghan Feb ‘11Joyce Stewart Apr ‘11Joyce Graham Apr ‘11Joan Colfar Jul ‘11Patricia Guy Aug ‘11

Maidstone Doris Latter May ‘11Maintenance Peter Gutsell Jul ‘11Manchester Terence Miller May ‘11

Mary Spratt Jul ‘11Mansfield John Frost Mar ‘11Marble Arch Store Pauline Eason Mar ‘11

Sadie Dowling Mar ‘11Beryl King Mar ‘11Elizabeth Morris Jun ‘11Kathleen Pettyfer Jul ‘11Elsie Hembrey Jul ‘11

Marlborough Sf Sheila Denyer Apr ‘11Meadowhall James Clark May ‘11Metro Centre Eleanor Ranson Jun ‘11Moorgate Jean Wallace Jun ‘11Muswell Hill Raju Patel Apr ‘11Neath Mary Gamble Jul ‘11Newark Mary Pollard Jun ‘11Newbury Cynthia Abrahams May ‘11

Doris Flack Jul ‘11

Newcastle N. Elizabeth Joyce Aug ‘11Newton Abbot Ann Congdon Apr ‘11Northampton Jean Andrew Apr ‘11Norwich Evelyn Clarke Apr ‘11

Marguerite Wilson May ‘11Jay Robson Jul ‘11

Nottingham Denis Marshall Jul ‘11Gladys Fisher Jul ‘11

Nuneaton Kathleen Farnell Jul ‘11Oxford Muriel Bolderson Jul ‘11Paisley Jamesina Stevenson Mar ‘11Pantheon Gabrielle Greetham Sep ‘09

Hazel Bolognesi Jan ‘11Doris Chappell Jan ‘11Marion Miller May ‘11

Peckham Store Jane Keeble Jul ‘11Plymouth Phyllis Love Mar ‘11

Jean Bell Aug ‘11Pontypridd Myra Delbridge Jun ‘11

Prudence Roberts Jun ‘11Poole Eric Hayward Jul ‘11Portsmouth C. Ena New Apr ‘11

Maureen Finney Jul ‘11Preston Vera Hargreaves May ‘11

Francis Crabbe Jun ‘11Pudsey Leeds Maureen Peat Apr ‘11Edge Of TownPutney Freda Maguire Mar ‘11

Joan Hill Mar ‘11Reading Doris Fraser Feb ‘11

Kathleen Bell May ‘11Beryl Ellenor Jul ‘11

Redcar Eileen Garbutt Jul ‘11Romford Rhoda Spivey Jun ‘11Rotherham Parkgate Dorothy Haley Apr ‘11

Marjorie Jackson May ‘11Margaret Smith Aug ‘11

Salford Dorothy Hill May ‘11Salisbury Patricia Poole Feb ‘11Scarborough Ronald Johnson Mar ‘11Scunthorpe Ann Bromfield May ‘11Shared Services Joyce Woods Apr ‘11Accounting ServicesSheffield Fargate Winifred Smith Mar ‘11

June Voyse Jun ‘11Renee Freeman Jul ‘11

Shrewsbury John Austin Apr ‘11Ruth Carter Jul ‘11

Slough Mavis Danby Apr ‘11Solihull Kathleen Wintermantle Jun ‘11

Gwendoline Brown Jun ‘11South Shields Sarah Williams Jul ‘11Southampton Doris Lovejoy Apr ‘11

Donald Lynch Jun ‘11Janet Moran Jun ‘11

St. Helens Bernard Constantine Apr ‘11Diana Jones Apr ‘11

Stafford Dorothy Hughes Aug ‘11Staines Brian Rowling Mar ‘11

Staines cont. Wendy Woodcock May ‘11Mary Devlin Jul ‘11

Stirling Betty Gray Apr ‘11Alexandrina Watt Jul ‘11

Stockport Alma Bellis Mar ‘11Jane Mcknight May ‘11Agnes Higgins Jul ‘11

Stockton On Tees Dora Patton Mar ‘11Marjorie Wake Jul ‘11

Sutton Coldfield Jean Jones Aug ‘11Swansea Geoffrey Bailey May ‘11

Hilda Williams May ‘11Joyce Banfield Jul ‘11

Swindon Wendy Lawrance May ‘11David Dumbleton Jun ‘11

Taunton Patricia Heal Oct ‘09Wendy Britton Jul ‘11

Telford Pamela Edwards Jul ‘11Frederick Crook Jul ‘11

Tooting Rhoda Dawson May ‘11Margaret Munt Jul ‘11

Torquay Dorothy Cole Mar ‘11Elaine Martin Apr ‘11

Tunbridge Wells Margaret Wheeler Jun ‘11Tyneside D.C. John Joel Mar ‘11

Elizabeth Senior Apr ‘11Unknown Unit/ Margaret Cracknell Jul ‘10Dept (Pensions Sys) Helen Hanger Oct ‘10

Bette Parsons Feb ‘11Agnes Forrester Apr ‘11Evelyn Mesure Apr ‘11William Turner Apr ‘11Anne Arguimbau Jun ‘11

Uxbridge Susan Peachey Jun ‘11Wakefield Mary Bennett Aug ‘11Wallasey Mildred Hill Mar ‘11

Enid Birkett May ‘11Watford Peter Markham Jun ‘11

Mercy Yeates Jul ‘11Sandra Hopkins Aug ‘11

Wembley Ruby Baker Mar ‘11Barbara Tregear May ‘11Yvonne Dunn May ‘11Kathleen Wood May ‘11

Weymouth Patricia Norman Jun ‘11Barry Parker Jul ‘11

Willesden D.C. Rosaline Redmond Mar ‘11Windsor Brenda Green Mar ‘11Wolverhampton Violet Shore Jun ‘11Wood Green Frances Fagan Sept ‘09

Evelyn Baker May ‘11Worcester Heather Powell Apr ‘11Worksop Anne Siddons Jun ‘11Worthing Mary Davies Jul ‘10

Gladys Cornell Apr ‘11Ann Farrell May ‘11

Wrexham Emily Wynn Nov ‘10Barbara Francis Mar ‘11Jane Harrison Aug ‘11

Write to: The M&S Pensions Administration Team Alexandra Court 200-220 The Quays Salford Quays Manchester M50 3SP

If you need to get in touch, there are several ways of doing so. You can:

Helpline: 0345 304 7474

Email: pensions@marks-and-spencer.com

We have made every effort to ensure that the content of this magazine is correct. However, please be aware that any benefits payable from the Scheme are paid in accordance with the Scheme Rules, which will always override any comment in the magazine in the case of a discrepancy.