Since August 2022 your BAE Systems DC pension has been provided by the Mercer Master Trust in an arrangement called 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 are called the MBDA Retirement Savings Plan (MBDARSP) and the RBSL Retirement Savings Plan (RBSLRSP).

More information about the Mercer Master Trust

Scottish Widows is the administrator for the Mercer Master Trust (MMT). Scottish Widows manages your account from day-to-day. This includes processing your contributions, arranging investment fund switches and communicating with you from time to time on behalf of Mercer. For more information on the MMT please visit your dedicated employer Scottish Widows website which can be accessed at the bottom of this page. The Scottish Widows website holds a number of general guides and information about your pension but for personalised information regarding your pension, please visit www.mercermoney.com. Once registered on Mercer Money you will be able to:  
  • Monitor the value of your BAESRSP account
  • Access information regarding the funds you can invest in and the historic performance of those funds
  • Make changes to your investments
  • Update your selected retirement age (the date you expect to retire)   
  • Investigate the impact of paying different levels of contributions
  • Create illustrations of the savings you might build up and estimate how much you may need to live in retirement 
  • Update your nomination of beneficiaries (see below)

How to activate your Mercer Money account 

If you haven’t activated your Mercer Money account yet, you can get started by downloading the Mercer Money mobile app from the App Store or Google Play, or by visiting the website at www.mercermoney.com. To activate your account, you will need to enter a few details, including your pension account number, which is shown in the communication sent to your home address on joining. 

How to Nominate your Beneficiaries 

Once you’ve activated your account, you can view details of your pension and importantly nominate your beneficiaries. It is important that you nominate your beneficiaries in relation to your pension to provide the MMT Trustee with an indication of who you would like your retirement savings paid to in the event of your death.

How to start paying Matching Contributions, Additional Voluntary Contributions (AVCs) or change the amounts you wish to pay

You have the option to pay an additional 1% or 2% of your basic salary which the Company will match. These are referred to as ‘Matching Contributions’. To help boost your pension savings you can pay further contributions into your pension account, over and above Matching Contributions, via the payment of AVCs. 

If you are a member of the BAESRSP to start paying matching contributions, regular monthly AVCs, a one-off lump sum AVC or to change the amount you currently pay, please submit a request via the BAE Systems Employee Service Centre Portal (search ‘Changing your pension contributions in the MMT BAESRSP’). To access the portal you can only do this if you are logged on and using a BAE Systems device, on a BAE Systems network. If you do not have access to the Employee Service Centre portal, please call 0208 068 2868 to help progress your request. If you are a member of the MBDARSP you should make your request via the Launchpad benefits portal. If you are a member of the RBSLRSP please contact rbslpayroll@rbsl.com for more information regarding the new process.

How to pay your annual Bonus into your pension account

Whilst you can pay a lump sum AVC at any time from your salary, you may also wish to consider paying a lump sum AVC from your annual bonus. You will be able to make an application to do this from mid-November each year, with the cut off for any application typically being the first week in February. Your request should be made in the same way as noted above for Matching Contributions and AVCs. If you are a member of the BAESRSP when accessing the Employer Service Centre Portal (search ‘Paying annual bonus into the MMT BAESRSP’).

Service Oversight Committee

Since the introduction of the new MMT arrangement, a new Service Oversight Committee is being introduced. The Committee will act as a forum for both the Company and Member Representatives to review and challenge the performance of the pension and raise any issues directly with Mercer. The Committee wil also meet on a quarterly basis. In the first instance you should raise any concerns / complaints with Scottish Widows directly.

Telephone: 0800 015 2038

Email:  workplacesavings@scottishwidows.co.uk

Address: Scottish Widows Workplace Savings, PO Box 24173, 69 Morrison Street, Edinburgh, EH3 1HP 

If your issue is not resolved then members will be able to provide feedback to the Committee via their site Member Representatives. Further details on the work of the Committee will follow when it is fully up and running at the end of the year.

 
 

Mercer Money - Accessing Your Pension Account For The First Time

Mercer Money - Accessing Your Pension Account For The First Time Guide

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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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