Contribution rate
Your contributions are 8% of Pensionable Earnings.

SMART Pensions Arrangement
Provided you are employed by companies wholly owned by BAE Systems or participating Joint Venture Companies (JVs), all contributions 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.

Company contributions
The rate of Company contributions is determined by the Company and the Trustees and with advice from the 2000 Plan’s Actuary, who carries out regular reviews of the financial position of the 2000 Plan.

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.

How the contributions are used
Your contributions, together with the contributions from the Company, are invested by the Trustees as part of the total assets of the 2000 Plan. Those assets are used to provide benefits as set out in the Rules of the 2000 Plan.