Mercer Limited (‘Mercer’) became the new pension administrator for BAE Systems Pension Scheme members with Alvis Benefits from August 2023 (replacing Equiniti).
Contributions to the Scheme can be made under SMART Pensions. Paying your contributions in this way means that you could pay lower National Insurance Contributions.
Please refer to the booklets on this page to learn about the benefits applying to your own membership. If you have any queries or require any information which cannot be found in the booklets, please contact Mercer at www.contactpensionsadmin.com/baes
You can choose to pay Additional Voluntary Contributions (AVCs) in order to increase your retirement benefits which are a type of Defined Contribution (DC) benefit. DC benefits invested with Standard Life (not including a small number of With-Profit holdings which will remain with Standard Life) have now moved to a new ‘Master Trust’ pension arrangement with the Mercer Master Trust (‘MMT’). For active Scheme members, this brings a change to the way in which members can elect to pay, change or stop the amounts of AVCs they make. AVCs will now be paid into the Master Trust arrangement and details of the AVC process can be found on the Defined Benefit page
If you are one of the small number of members who have Standard Life With Profit AVCs you can continue to access the Standard Life website for details of your current fund value and use the pension modelling tools online by accessing Standard Life’s Online Services.
You should ensure you have completed a Nomination of Beneficiaries Form. This helps the Trustee decide who should receive any lump sum payable in the event of your death. The form is available below or you can take the opportunity once you have accessed OneView to update your Nomination of Beneficiaries form online. Please be aware that if you have benefits in the MMT, you must complete a separate Nomination of Beneficiaries form for this pension arrangement.
The BAE Systems Pension Scheme Consultative Committee exists to promote a better understanding of issues facing members in the pensions field. Representatives of this Committee are able to support members. They provide a formal channel through which matters that are of particular interest or concern to both in-service and deferred members can be raised. They are also actively involved in improving communication links between the Company and Scheme members. If you would like to discuss a pensions matter, please refer to the Consultative Committees page for further information and to find the contact details of a Representative local to you.