Quick help

Which scheme am I in?

When did you join the scheme?

If you joined the Company on or after April 2012 you will have been offered membership of a DC Pension. From 1 August 2022 this is under the Mercer Master Trust arrangement, the MMT - BAE Systems Retirement Savings Plan ('BAESRSP'). Former members of the DC Retirement Plan or the BAE Systems Executive Pension 2012 Plan which were the arrangements in place between April 2012 and July 2022 started paying contributions into the BAESRSP in August and their previous pension pots will be transferred to the BAESRSP in September 2022.

Between 5 April 2003 and 31 March 2012:

BAE Systems Pension Scheme - Level 100+

Before 5 April 2003 (or if you were in a scheme provided by your previous employer which has become part of BAE Systems):

If you're unsure which Scheme you are in, please Contact Us.

I'm not in a pension scheme. How do I join?

How much can I pay into my pension?

How do I start paying AVCs or pay a lump sum into my AVC?

If you are a member of the MMT – BAE Systems Retirement Savings Plan to start paying regular monthly AVCs, a one-off lump sum AVC or to change the amount of AVCs you currently pay, please submit your request via the BAE Systems Employee Service Centre portal (search ‘AVC’). For all other members the Trustee has chosen Standard Life for the investment of AVCs. By accessing the Standard Life website you will be able to find out all the information you need about paying AVCs, the investment choices available, your options on retirement, as well as the forms required to start paying or to change the level of your AVC payments. From here you will also be able manage your AVC account online by accessing Standard Life's Online Services.

How do I claim tax relief if I wish to pay a lump sum AVC outside of payroll?

If you pay a lump sum AVC via payroll tax relief is automatically applied. You do not have to do anything to get the full tax relief (even if you are a higher rate tax payer). This should always be the preferred route.

Alternatively, you can pay a lump sum AVC by bank transfer, however as this will not be transacted via payroll, it will be your responsibility to reclaim the tax back. You can do this in two ways:

1. Via a Self-Assessment tax return.

2. Call or write to HM Revenue & Customs (HMRC) if you don’t normally fill in a tax return. You can find details of the many ways you can contact HMRC here and they will be able to help you.

The re-claiming of tax is time consuming and also involves a process that will be unfamiliar to most. It is therefore recommended that whenever possible if you wish to pay AVCs you do this via payroll.

If you are looking to pay a lump sum AVC directly at any time during the year (as opposed to just at March bonus time), please contact your scheme administrator who will be able to guide you through the process and provide you with the relevant payment details.

As a member of a BAE Systems defined benefit pension scheme can I change my pension level?

If you are a member of one of the sections of the BAE Systems Pension Scheme listed below, you have the option to change your pension level once a year at the beginning of April.

• Level 125, 167, 187 or 200 Benefits
• Alvis Benefits
• SIPS (VSEL and Portsmouth) Benefits

Each year a news item will be added to the Scheme website reminding members of this option and the forms that you will need to complete will be added to the website. There will be a cut-off date for the return of these forms which will typically be in early February. More information about the respective levels for each section, can be found in your member booklet located in your Scheme area of this website.

If you are a member of any BAE Systems defined benefit scheme you may wish to consider paying Additional Voluntary Contributions (AVCs) to help boost your pension savings. The Trustees have chosen Standard Life for the investment of AVCs. By accessing the Standard Life website you will be able to find out all the information you need about paying AVCs, the investment choices available, your options on retirement, as well as the forms required to start paying or to change the level of your AVC payments. From here you will also be able manage your AVC account online by accessing Standard Life's Online Services.

Who do I contact about my pensions query?

If I change from my standard working hours how will this affect my pension?

When can I retire?

You may usually retire anytime from age 55. It should be noted that the Government will be increasing the minimum pension age from age 55 to age 57 by 2028. For MMT – BAE Systems Retirement Saving Plan members further details are available via the Scottish Widows website. For SIPS Benefit members further details are available from the Administration Centre at Capita. For all other members further details are available from the Pensions Service Centre. You can find their details by going to the Contact Us section of this website.

How do I get a retirement quote?

Members of the MMT – BAE Systems Retirement Savings Plan should access their individual Mercer Money account whereby you can create illustrations of the savings you might build up and estimate how much you may need to live on in retirement. For SIPS Benefits members you can obtain a retirement quote by logging onto Hartlink and requesting a retirement quotation. Hartlink will calculate the pension and tax free lump sum at the date you choose. If you decide to retire you will need to obtain a formal retirement quote from the Administration Centre at Capita. For all other members you can obtain a retirement quote by logging on to MyPension and requesting a retirement quotation. MyPension will calculate the pension and tax free lump sum at the date you choose. If you decide to retire you will need to obtain a formal retirement quote from the Pensions Service Centre. You can find their details by going to the Contact Us section of this website.

Who do I contact if I cannot get access to Mercer Money, Hartlink or MyPension?

What happens to my pension when I leave the Company?

I am a deferred member. What happens when I reach my retirement age?

How do I change my Nomination of Beneficiaries form (also referenced as 'Expression of Wish' form)?

A Nomination of Beneficiaries form is an important part of the decision making process when the Trustee is considering the distribution of benefits in the event of your death. If you are a member of the MMT – BAE Systems Retirement Savings Plan you should log into Mercer Money and nominate your beneficiaries on-line. For all other members, please download the form which you can find in your scheme area of this website. Complete and send this to the address on the form.

How do I notify you of a change of address?

Members of the MMT – BAE Systems Retirement Savings Plan should contact Scottish Widows. SIPS Benefit members should notify the Administration Centre at Capita and all other members should notify the Pensions Service Centre. You can find their details by going to the Contact Us section of this website. For those deferred and pensioner members who have access to MyPension you can update your address online by logging into MyPension.

How do I notify you of a change of bank details?

Where can I view my P60 or monthly pension payslip?

For SIPS Benefits members you can view your P60 and monthly pension payslip by logging on to Hartlink. If you do not have any login details or you are having problems accessing the site please contact the Administration Centre at Capita on 0345 601 0607. For all other members you can view your P60 and monthly pension payslip by logging on to MyPension. If you do not have any login details or you are having problems accessing the site please call the helpline 0871 384 2682.

Where can I find out about pensioner associations?

I need to report a death. What do I need to do?

I want to opt out of the scheme. What do I need to do?

If you are thinking of opting out of the scheme and you are a member of the MMT – BAE Systems Retirement Savings Plan you will need to submit a request via the BAE Systems Employee Service Centre portal (search ‘Opt Out’). If you are a SIPS Benefits member you should contact the Administration Centre at Capita. For all other members you should contact the Pensions Service Centre. You can find their details by going to the Contact Us section of this website.