Over recent years, the BAE Systems Pension Schemes have been recognised by a number of awards reflecting our successes in scheme management, administration, member communication and overall service to members. Here are the most recent:
BAE Systems Chairman's Awards 2014
The Automatic Enrolment Project Team, lead by Group Pensions have been been awarded a Bronze Chairman's Award for their 'Positive Pensions Engagement' in the transferring best practice category.
Pensions Awards 2014
We won the Best Risk Management Exercise and were Highly Commended in the Innovation Award in the Pensions Age Awards 2014.
We were also shortlisted for the European Pensions Communication Award in this year's European Pensions Awards.
BAE Systems Chairmans Awards 2013
The Group Pensions Team won a Chairman's Bronze Award for Innovation for the work done on redesigning the control panel which is used to monitor the governance of all pension arrangements in the BAE Group.
2013 Professional Pensions, Pension Manager of the Year
The Professional Pensions Pension Manager of the Year for 2013 was given to Group Pensions Director, Nigel Tinsley, at the Pension Scheme of the Year Awards. Group Pensions were delighted that his leadership was recognised by winning this prestigious award.
2010 Special Needs Strategies
This award recognised our work in making different formats of our pensioner newsletter available to help our pensioners with failing eyesight, including audio and large font versions of the newsletter. The judges said the Scheme "had succeeded in making a real impact in improving the lives of the BAE Systems pensioners".
2007 Scheme Manager of the Year
This award is given to a scheme manager who has demonstrated imagination, vision and leadership for the benefit of his or her members and probably turned heads in the industry as well. The judges praised Nigel Tinsley, Pensions Director, "...for work done in articulating the changes it needed to make to safeguard the future of the company as a whole. This involved a massive business restructure that was handled in an exemplary fashion by the scheme and which brought it success in last year's awards before the process had been completed."
2007 BAE Systems Chairman's Bronze Award for Innovation
This internal award reflected the innovative way the Schemes were able to maintain the final salary arrangements for current and new employees.
2006 Scheme of the Year Award
In the judges' opinion, the Scheme has demonstrated excellence in all aspects of its running and said: "...the BAE Systems Scheme successfully communicated considerable change to its membership, maintained impeccable standards of two-way communication and sold the idea to the vast majority of those who would be affected. In fact, the people at this Scheme deserve a medal for the degree of innovation they have shown in finding a workable solution to a very real problem that is faced by many, many schemes."
2006 Best New Benefits Strategy Implementation Award
The judges praised our ongoing regular communications and dialogue and said our Scheme is "a shining example of a successful implementation".
2006 Most Effective Ongoing Communications Award
We were given this award for the way we communicate on a daily basis with our members - from the welcome pack that is given to new starters, to the dedicated telephone helpline answering members' queries; targeted newsletters and annual benefit statements.
2006 One-off Communications Award (Commended)
The judges highlighted the efficient way that BAE Systems Pension Scheme communicated its plans to address the deficit. The scale of the task impressed the judges, who praised the Scheme for hiding nothing in its communications.
2006 Large Scheme Award (Commended)
The judges praised our "incredible hard work" during a period of considerable change. They said the BAE Systems Pension Scheme "has moved mountains in terms of what it has achieved with members, unions and the media in the past 12 months, as it sought to introduce a new method for calculating the benefits of its members."
IPE 2006 - a pan-European Award
Our Scheme won the DB/DC Structuring and Strategies Award from amongst other pension schemes across Europe. The judges said: "BAE Systems Pension Scheme has shown itself to be that rarest of breeds - a pension fund which is successfully addressing a serious deficit while keeping intact the principle of defined benefits. Furthermore, at all stages of the process, the fund has consulted its members as well as keeping them informed on progress. The changes have allowed its final salary arrangements to remain open on a much firmer footing for current and new employees."
2005 Best Benefit Statements
We received this award for introducing our innovative and comprehensive new benefit statements.