Your BAE Systems Executive Pension Scheme – 2006 Section
In addition to the final salary element of the Scheme, the Company also pays a percentage of your basic salary into a Retirement Account which is a Trust Based Pension provided by Standard Life Assurance Limited. You can also pay Additional Voluntary Contributions (AVCs*) to your Retirement Account, using the 2006 Section Additional Voluntary Contribution form.
Hargreaves Lansdown has been appointed to provide a Retirement Service for members with Defined Contribution (DC) and AVC benefits, to help them make an informed choice about their retirement options. The service is provided on a non-advised basis. Find out more.
- Choose how your Retirement Account is invested via a number of investment options and funds that have been made available to members via Standard Life Assurance Limited
- Pay AVCs*. You can cease these payments whenever you wish
- Change your target retirement age
The benefit payable from your Retirement Account will depend upon the contributions paid into your Retirement Account and the investment returns achieved by the funds you have selected (after any charges).
*Please be aware of how this may affect your annual allowance limit. For more information, please visit gov.uk.
You choose how much you pay, where you invest and when you aim to access your Retirement Account to suit your circumstances and future plans. It is therefore important that you take control of your pension savings by thinking about these things. To allow you to keep a close eye on your pension investments, Standard Life's online pensions services are available to all Scheme members. These provide information specific to your individual Retirement Account. Register for the service so you can:
- See the current value of your Retirement Account
- Change your investment funds
- Access information regarding the funds you can invest in and the historic performance of these funds
- Use online tools to produce an estimate of the benefits you might receive at your Target Retirement Age (TRA)
- Investigate the impact of paying different levels of contributions and / or changing your TRA
- Learn about the retirement income options available to you
After your first contribution has been received, Standard Life Assurance Limited will send you a membership certificate containing your individual plan number, which will enable you to register for online services. Once you have completed the simple registration process you will be able to manage your Retirement Account online. If you have any problems accessing this service please call Standard Life Assurance Limited on 0345 606 0098, between 8am and 6pm Monday to Friday.
In addition to the online service there is also an Investment Guide which gives details on the basic principles of investing, the funds you can invest your money in and the charges that apply to these funds.
Pension Scheme Trustee
The BAE Systems Executive Pension Scheme Trustee is responsible for managing the Scheme in line with current law and the Trust Deed and Rules, and looking after the members’ best interests. The Trustee appointed Standard Life Assurance Limited to provide administration services and support for the Scheme.
Get the most from your pension
You choose how much you pay and where you invest your Retirement Account. The choices you make will affect how much money you could have at retirement.Explore your contribution options >
The Trustee has provided you with the following useful documents. Standard Life Assurance Limited are not responsible for the content of these documents.