Level 100+ members
Your Level 100+ Retirement Account
In addition to the final salary element of your Level 100+ benefit, the
Company also pays 2% 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 Level 100+
Additional Voluntary Contribution
form.
Hargreaves Lansdown has been appointed to provide a Retirement Service
for members with 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.
You can...
- 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.
Monitoring your Retirement Account
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 Scheme 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 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.
Area Committees
The BAE Systems Pension Scheme Area Committees exist to promote a better understanding of typical
pension issues which Scheme members may face. Representatives of these Committees are able to
support members. If you would like to discuss a matter, please refer to the Consultative Committees
page for further information and here you can access
contact details of the current representatives.
Get the most from your pension
Contribution options
You can 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 >
Investment options
There are choices to suit your level of
experience with investing and how involved you want to be
with managing your investments.
Explore your
investment choices
>
Useful documents
Investment Guide for the BAE Systems Pension Scheme (PDF, 296KB)
Information about tax relief, limits and your pension guide (PDF, 391KB)
The Trustee has provided you with the following useful documents. Standard Life Assurance Limited are not responsible for the content of these documents.
AVC Application and Amendment
Form (PDF, 182KB)
100+ Investment Instruction
Form (PDF, 195KB)
100+ Target Retirement Age Change Form (PDF, 187KB)
100+ Transfer In
Enquiry Form (PDF, 131KB)
Your Retirement Service - Getting the best deal (PDF, 1.2MB)
Do you need help?
Get some guidance
Members over 50 can get free retirement guidance from the
government’s Pension Wise service.
Visit Pension
Wise >