News Archive 2015

Annual and Lifetime Allowance changes linked to Summer Budget 2015

Summer Budget 2015 There were a number of pension-related announcements in the Chancellor’s Summer Budget, given on 8th July 2015 and two important changes to pensions taxation are reported on below.   Lifetime Allowance The Lifetime Allowance is the limit on the total value of pension benefits that an individual can build up over their working life without a tax charge. The Govern...Read more >

Pensions News: Your Money. Your Choice

The government has recently announced the name and brand of the new guidance service that will help people take advantage of pension flexibilities coming in from April 2015. ‘Pension wise: Your Money. Your Choice’ will give free, impartial guidance that takes account of your financial and personal circumstances. Read more..          &nb...Read more >

Pension Scams

Pension scams are on the increase. Scammers have a variety of tricks to catch you out. They may: claim that you can access your pension pot before age 55 approach you out of the blue over the phone, via text message or in person door-to-door entice you with upfront cash offer a free 'pension review' or try to lure you in with so-called 'one-off' investment opportunities The scammers may e...Read more >

News for deferred members of the BAE Systems Pension Scheme

Benefit statements for deferred members of the BAE Systems Pension Scheme are in the process of being issued and all will be issued by the end of February 2015.  Could we ask you not to contact the Pension Service Centre to chase your statement unless you have not received your statement by the end of February. 16 January 2015Read more >

Level changes 2015

Level and contribution change forms are now available on the scheme pages of the website. Members of the BAE Systems Pension Scheme Levels 125, 167, 187 and 200; DC Retirement Plan and the Alvis Pension Scheme have an annual opportunity to change their base level pension or the level of contributions paid. We want to remind you about this now, so that you have time to tell us if y...Read more >