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  • BAE Systems Pension Scheme Funding Update
    News

    BAE Systems Pension Scheme Funding Update

    The Trustee of the BAE Systems Pension Scheme (‘the Scheme’) is pleased to announce that agreement has been reached with BAE Systems plc (the Company) on the actuarial valuation for the BAE Systems Section (‘the Section’) of the Scheme as at 31 March 2021.
    28 Jul 2022
  • Overseas pensioner address verification exercise
    News

    Overseas pensioner address verification exercise

    It is important that the Trustee(s) of the BAE Systems pension schemes hold up to date address details for all their members. The Trustee(s) have appointed the services of the XPS Pensions Group to carry out an address verification exercise for all overseas pensioner members who are in receipt of a pension.
    7 Feb 2022
  • 2022 re-enrolment exercise
    News

    2022 re-enrolment exercise

    The Government introduced Automatic Enrolment in 2012, which is designed to help people save more for their retirement.
    31 Jan 2022
  • Lump sum AVC for 2021/22 tax year
    News

    Lump sum AVC for 2021/22 tax year

    Do you want to boost your pension savings before the end of the tax year?
    20 Jan 2022
  • Changing your pension level – For members of the BAE Systems Pension Scheme - Level 125, 167, 187 or 200 Benefits, Alvis Benefits and SIPS Benefits (VSEL and Portsmouth)
    News

    Changing your pension level – For members of the BAE Systems Pension Scheme - Level 125, 167, 187 or 200 Benefits, Alvis Benefits and SIPS Benefits (VSEL and Portsmouth)

    The Scheme is flexible and allows you to change the basis upon which your pension builds up each year.
    20 Jan 2022
  • Pension Essentials
    News

    Pension Essentials

    A video designed to give you an overview of the benefits you enjoy as a member of one of BAE Systems’ pension schemes.
    4 Jan 2022
  • BAE Systems Pension Scheme Net Zero Statement
    News

    BAE Systems Pension Scheme Net Zero Statement

    Our investment strategy is set in the best financial interest of our members.
    28 Oct 2021
  • National Pension Tracing Day
    News

    National Pension Tracing Day

    31 October 2021 sees the launch of National Pension Tracing Day. The clocks go back, so you have an extra hour to start tracing any lost pensions.
    27 Oct 2021
  • FCA releases updated consumer transfer videos
    News

    FCA releases updated consumer transfer videos

    Defined Benefit (DB) members who have left pensionable service and have deferred benefits in a DB scheme may, subject to certain legislative requirements, transfer the value of their DB benefits to a Defined Contribution (DC) pension arrangement.
    6 Oct 2021
  • Keeping your Expression of Wish form up to date
    News

    Keeping your Expression of Wish form up to date

    What is it, do I need one, how do I make an Expression of Wish and can I change it?
    17 Aug 2021
  • Deferred member address verification exercise
    News

    Deferred member address verification exercise

    It is important that the Trustee(s) of the BAE Systems pension schemes hold up to date address details for all their members. The Trustee(s) have appointed the services of the XPS Pensions Group to carry out an address verification exercise for all deferred members.
    12 Aug 2021
  • Tax relief on Additional Voluntary Contribution lump sum payments
    News

    Tax relief on Additional Voluntary Contribution lump sum payments

    You are able to pay a lump sum Additional Voluntary Contribution (AVC) via payroll where tax relief is automatically applied, or you can pay a lump sum AVC by direct bank transfer but it will then be your responsibility to reclaim the tax relief via a Self-Assessment tax return or by contacting HM Revenue & Customs (HMRC).
    12 Aug 2021
  • Pension scams
    News

    Pension scams

    A new Pension Guide has been added to help you spot a scam and give you advice on what to do if you are contacted.
    21 Jun 2021
  • 2021/22 budget changes affecting pensions
    News

    2021/22 budget changes affecting pensions

    In the budget given on 3 March 2021, two announcements affected pensions, namely the Lifetime Allowance and the State Pension.
    26 Apr 2021
  • Changing your pension level – For members of the BAE Systems Pension Scheme - Level 125, 167, 187 or 200 Benefits, Alvis Benefits and SIPS Benefits
    News

    Changing your pension level – For members of the BAE Systems Pension Scheme - Level 125, 167, 187 or 200 Benefits, Alvis Benefits and SIPS Benefits

    The Scheme is flexible and allows you to change the basis upon which your pension builds up each year.
    6 Jan 2021