Following a pension consultation with contributing members of the BAE Systems Pension Scheme - DC Retirement Plan (DCRP) and the BAE Systems Executive Pension Scheme - 2012 Retirement Plan (2012 Plan), from 1 August 2022 future DC pension provision will be provided by a new arrangement under the Mercer Master Trust. The new Company pension arrangement is the MMT - BAE Systems Retirement Savings Plan (BAESRSP).  
 
Both MBDA and RBSL have sections under the Mercer Master Trust arrangement as distinct employers with their own members. These sections, the MBDA Retirement Savings Plan (MBDA RSP) and the RBSL Retirement Savings Plan (RBSLRSP) remain within the broader BAE Systems Retirement Saving Plan.
 
The administrator for the Mercer Master Trust is Scottish Widows.
 
If you are an in-service member, from 1 August 2022 the Company’s and your pension contributions will start to be paid into the Mercer Master Trust.
 
For in-service and deferred members (i.e. those who have left employment but are yet to access their pension) your existing pension pot, which is currently invested with Standard Life, will be transferred to the Mercer Master Trust in September 2022.
 
In-service members will receive a welcome letter from the Trustee of the Mercer Master Trust in August which will include information on how to access your new account online. Deferred members will receive their welcome letter in September.
 
You should continue to access the Standard Life website for information on your DCRP and 2012 Plan benefits until they are transferred across to the Mercer Master Trust.
 
For information on the Mercer Master Trust visit your dedicated Scottish Widows website. 
 
To allow for the smooth transfer of your Account within the DC Plan to the new Master Trust pension arrangement it will not be possible to make any changes to your investment choices or Target Retirement Age in the DC Plan after 8 July 2022. Once you have transferred to the new arrangement you will once again be able to make changes to your investment choices and Target Retirement Age. Also any requests to amend matching contributions, existing AVCs or to start new AVCs are now temporarily unavailable. New processes are being set up with your employer and details will be available shortly.
 

BAESRSP

If you are employed by BAE Systems visit your dedicated Scottish Widows website for information on your new Master Trust pension arrangement
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MBDA RSP

If you are employed by MBDA visit your dedicated Scottish Widows website for information on your new Master Trust pension arrangement
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RBSLRSP

If you are employed by RBSL visit your dedicated Scottish Widows website for information on your new Master Trust pension arrangement
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BAESRSP

If you were a deferred member of the DCRP or 2012 Plan prior to 1 August 2022 visit your dedicated Scottish Widows website for information on your new Master Trust pension arrangement
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Standard Life

Members with DC Benefits including AVCs - log in to review your pension information online whenever you want it.
 
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