You pay 4% of your Basic Salary towards the Core Benefits of Level 100+; these are your Basic Contributions.

You may also pay Voluntary Contributions to your Retirement Account.

SMART Pensions Arrangement
Provided you are employed by companies wholly owned by BAE Systems or participating Joint Venture Companies (JVs), all contributions to Core Benefits will be made under the SMART Pensions arrangement, unless you choose to opt out. Full details of the SMART Pensions Arrangement can be found in the SMART Pensions section.

Income tax relief
Any contributions you choose to make are deducted from your pay before tax is calculated; therefore, you automatically receive income tax relief at your highest rate.  Some restrictions apply to high earners

Company contributions
The rate of Company contributions for Core Benefits is determined by the Trustees in consultation with the Company and with advice from the Scheme’s Actuary, who carries out regular reviews of the financial position of the Scheme. In addition, the Company will allocate an amount equal to 2% of your Basic Salary to your Retirement Account.