The Trustee Boards of the various BAE Systems pension schemes have been working with Standard Life with a view to improving member access to DC and AVC information. They are now pleased to confirm the launch of a BAE Systems scheme specific website which will be maintained by Standard Life and will provide a one-stop shop for members to get information on their DC account.
Once you access the Standard Life website you will have all the information you need to manage your DC account at your fingertips, including fund fact sheets, investment guides and the forms required to make changes to your contribution levels, investment choices and Target Retirement Age (the age at which you are planning to access your DC account).
Various tools and calculators are available which will allow you to check your financial health. By using the tools you will be able to work out what it could cost you to do all the things you want to when you stop working. You can explore your retirement income options and see if your pension savings are on track. There is also a Retirement Pathfinder which provides a quick and easy way to give you a snapshot of your options and how you can make the most of the flexibility rules that govern how you can use your DC account.
You will also be able to manage your DC account online by clicking on the link to Standard Life’s online servicing
portal. From here you can see your DC fund value and you are able to change your investment funds as well as your Target Retirement Age.
For DC Retirement Plan members the ‘Defined Contribution’ tab of this website (baesystems.com/pensions
) will now link you directly to the new Standard Life website. For all other members, with the exception of Executive pension scheme members, there are links within the dedicated pages on your section of this website which will take you to the new Standard Life website.
You can also access the Standard Life website using the links below. Just click on the Scheme that you are a member of and start exploring the benefits within the dedicated website. Remember to add this as one of your “favourites” for ease of access going forward.
For members whose benefits are both defined benefit (DB) and DC in nature, for example members of BAE Systems Pension Scheme Level 100+, or those DB members who pay AVCs, the Standard Life website will only provide information on your DC benefits. For information on your DB benefits please go to the relevant section of this website or contact your Scheme administrator. Use the Contact Us
section of this website for further information.