News Archive 2017/2018

DC survey

Recently, active members of the BAE Systems DC Retirement Plan received a postcard inviting them to take part in an online questionnaire asking for their views on their pension plan. The Trustees are keen to hear your views.  You can feel completely free to answer all questions openly and honestly. This is not a test and there are no right or wrong answers! We simply ask that you express you...Read more >

Lump Sum AVCs 2017/2018 - updated

The deadline has now passed if you want to make a Lump Sum Additional Voluntary Contribution (AVC) from your March salary or bonus (if applicable) via payroll. However, you have until 16 March 2018 if you want to pay a lump sum by personal cheque to the Trustees. Information on the process to follow is available on the Lump Sum AVC form, which can be downloaded from the relevant scheme spec...Read more >

Level and Contribution Changes: April 2018 - update

The deadline has now passed for members of the BAE Systems Pension Scheme (Levels 125, 167, 187 and 200) to change their base level pension. However, members of the following schemes have until Tuesday 20th February to elect for contribution changes using the forms on their scheme specific pages: Alvis Pension Scheme (Contribution Rate changes); Defined Contribution Retirement Plan&nb...Read more >

Lump Sum AVCs 2017/2018

The form that you need to complete in order to make a Lump Sum Additional Voluntary Contribution (AVC) from your March salary or bonus (if applicable) is now available. You can download the Lump Sum AVC form from the scheme specific pages: BAE Systems Pension Scheme (Levels 125, 167, 187 and 200) BAE Systems Pension Scheme (Level 100+) Defined Contribution Retirement Plan BAE Systems 2000...Read more >

Level and Contribution Changes: April 2018

Level and contribution change forms are available on the scheme pages of the website for members of the following schemes: BAE Systems Pension Scheme (Levels 125, 167, 187 and 200); DC Retirement Plan; Alvis Pension Scheme Members of these schemes have an annual opportunity to change their base level pension, or the level of contributions paid. We would like to remind you about this now,...Read more >

BAE Systems Pension Scheme: Option to exchange 'small pensions' for a lump sum

Changes in pension legislation may now provide some members of the BAE Systems Pension Scheme with an alternative option for how they may receive their benefits from the Scheme. Working with Xafinity, a leading pensions consultancy, the Trustees have analysed the membership of the Scheme and found that a number of pensioners and deferred members may be able to consider exchanging their small (als...Read more >

Could you serve the Royal Ordnance Pension Scheme?

If you have the qualities of good judgement, a willingness to learn and a desire to be fair as well as possess an energy and drive to serve your fellow members, maybe you could be a Trustee? Nominations are now being accepted for in-service members of the Royal Ordnance Pension Scheme interested in putting themselves forward for the role of Member Nominated Trustee. More info...Read more >

News for in-service members of the Royal Ordnance Pension Scheme - benefit statements due by August 2017

The Trustee would like to remind in-service members that their next benefit statement is being produced with an effective date of 31 March 2017 and distributed by August 2017. This follows a change to bring the Scheme's year end dates in line with the other BAE Systems pension schemes. This change does not affect Scheme members' benefits in any way.Read more >

Level and contribution changes: April 2017

Level and contribution changes forms are available on the scheme pages of the website for members of the following schemes: BAE Systems Pension Scheme (Levels 125, 167, 187 and 200); DC Retirement Plan; and Alvis Pension Scheme Members of these schemes have an annual opportunity to change their base level pension, or the level of contributions paid. We would like to remind you about ...Read more >

Lump Sum AVCs 2016/2017

The deadline has now passed if you want to make a Lump Sum Additional Voluntary Contribution (AVC) from your March salary or bonus via payroll. However, you have until 17 March 2017 if you want to pay a lump sum by personal cheque to the Trustees. Information on the process to follow is available on the form, entitled "Lump Sum AVC Form - 2016/2017 Tax Year", whch can be downloaded...Read more >

Lump Sum AVCs 2016/2017

The form that you need to complete in order to make a Lump Sum Additional Voluntary Contribution (AVC) from your March salary or bonus is now available. You can download the form, entitled "Lump Sum AVC Form - 2016/2017 Tax Year" from the scheme specific pages: BAE Systems Pension Scheme (Levels 125, 167, 187 and 200) BAE Systems Pension Scheme (Level 100+) Defined Contribution Retirement Plan ...Read more >

Important Updates on Lifetime Allowance

The Lifetime Allowance is the limit on the total value of pension benefits that an individual can build over their working life without a tax charge. From 6 April 2016, the Lifetime Allowance reduced to £1.0 million. In order to help protect those individuals who have built up or are likely to build up pension benefits in excess of the Lifetime Allowance, there are various protections availa...Read more >

BAE Systems Pension Scheme: Contacting deferred members and Options to exchange benefits for a lump sum

The Trustees of the BAE Systems Pension Scheme are working with Xafinity, a leading pensions consultancy, to re-establish contact with deferred members. A deferred member is someone who has left employment, yet still retains a benefit entitlement in the scheme, although they have not yet put their pension into payment. Unfortunately not all members remember to notify their pen...Read more >