Joining the MMT - BAE Systems Retirement Savings Plan (BAESRSP)
If you are not in a BAE Systems pension scheme and work or usually work in the UK then you may opt in and join the BAESRSP by submitting your request via the BAE Systems Employee Service Centre portal (search ‘Pension Opt In). If you do not have access to the Employee Service Centre portal please call 0208 068 2868. The BAESRSP is a Master Trust pension arrangement with Mercer, the Mercer Master Trust (‘MMT’) and is administered by Scottish Widows. More information on the BAESRSP including a Member Guide can be found on the dedicated BAESRSP website.
The FAQ document on this page provides you with more information about Automatic Enrolment. Please take time to read this carefully to understand your options and the processes and timings associated with Automatic Enrolment. The criteria for being automatically enrolled into the BAESRSP is that:
- you are not already in a workplace pension;
- you earn over £10,000 a year (£833 a month);
- you are aged 22 or over; and
- you are under State Pension age
We must continually monitor employees and if you become eligible due to meeting the above criteria, we will need to automatically enrol you into the BAESRSP.
If you do not meet the salary or age related criteria set out above for Automatic Enrolment you can still submit a request to opt in via the BAE Systems Employee Service Centre portal (search ‘Pension Opt In). If you do not have access to the Employee Service Centre portal please call 0208 068 2868.
Although the Company has to enrol you into the BAESRSP if you meet the above criteria when you are assessed under the Automatic Enrolment legislation, if you wish to opt out once you are enrolled, you can do so by making an Auto Enrolment Opt Out application via the Scottish Widows website (www.scottishwidows.co.uk/save/baes) within a month of you being notified by letter that you have been automatically enrolled into the BAESRSP. If this request is not received within a month, you may still opt out of the BAESRSP but you will need to submit a request to opt out via the BAE Systems Employee Service Centre portal (search ‘Pension Opt Out’). If you do not have access to the Employee Service Centre portal please call 0208 068 2868. You should think carefully about the retirement and family security benefits that you would miss out on if you opt out.
If you decide to opt out of the BAESRSP, you should be aware that it is a legal requirement that anyone who opts out or stops making payments will be automatically enrolled back into the BAESRSP at a later date. This is because your circumstances may have changed and it may be the right time for you to start saving. We will contact you when this happens, and you can opt out if it is still not right for you. The next re-enrolment date will be in 2025.