A new article on Bandolier: Pneumococcal vaccination update
These results are broadly consistent with results of several meta-analyses of randomised trials, none of which showed any effect of pneumococcal vaccination on pneumonia
AHRQ doesn't say much about pneumoccal vaccine. From the study cited in Bandolier, it looks like there was no reduction in pneumonia or hospital admissions, but there was a reduction in pneumococcal bacteremia.