SIPS (VSEL, Portsmouth and Fleet Support)

VSEL and Portsmouth members can choose to pay one of two tiers. Under Tier A you pay more, and build up more pension as a result.

Fleet Support members pay 1.5%.

Your employer pays the balance of the cost of providing your pension from the Scheme.

More details can be found in your Member Booklet.

VSEL and Portsmouth members have the option to request to change contribution tier once a year, effective from April.

Each year a news item will be added to the Pension news page of this website to confirm the window to request to change your level is open. This will also include the form you will need to complete. This is usually published in early December, and the deadline for returning your completed form is usually in early February.

More information can be found in your Member Booklet.

Details of how you can start paying regular monthly AVCs or pay a one-off lump sum AVC  can be found in the Paying Additional Voluntary Contributions pension guide.

Please refer to the Working part time pension guide.

For active members, you can retire at any time after age 55. The government is due to increase the minimum pension age from 55 to 57 from April 2028.

If you take your pension early, there may be an Early Retirement Factor applied.

If you are a Portsmouth member and you retire before age 65, an Early Retirement Factor will be applied. If you are a VSEL member, although the Scheme’s normal retirement age is 65, if you retire from active service, currently no reduction is applied if you retire from age 62. If you are a Fleet Support member an Early Retirement Factor is applied if you retire before age 60.

Please note that different Early Retirement Factors are applied between members retiring from active service and members retiring from deferred status (i.e. where there is a gap between leaving and retirement).

More details can be found in the Early Retirement FAQ, which you can find on OneView.

Most members can run instant retirement quotations via Aptia's online member portal OneView. If you are unable to run a quote via OneView can you submit a request via Contact Aptia Pensions (go to 'Raise a Request' then 'Retirement').

For VSEL members, your pension (excluding any Additional Voluntary Contributions) cannot exceed 2/3rds of your Final Earnings. This is known as the ‘Scheme Maximum’.

You can find out more by reading the Scheme Maximum pension guide.

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.

Please log into OneView to update your Nomination of Beneficiaries. Please be aware that if you have Additional Voluntary Contributions (AVCs) held in the Mercer Master Trust you must complete a separate Nomination of Beneficiaries form for this arrangement via Mercer Money.

Your pension will remain in the Scheme until you retire unless you decide to transfer it to another pension scheme. During the period between you leaving and when you take your benefits your pension will be increased in line with inflation.

More information can be found in your Member Booklet.

Any change to a home address by an active member must be updated via SuccessFactors (or your HR platform for any other participating employer other than BAE Systems) rather than by going directly to Aptia. Your employer will notify Aptia of any change of address via the monthly interface they issue.

Deferred and pensioner members should notify Aptia. You can do this online via OneView or my going to Contact Aptia Pensions and selecting 'Raise a Request' then 'Change your details'.