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+ AVC Application and Amendment 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.
- 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.
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
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 >
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 >
Investment Guide for the BAE Systems Pension Scheme (AVC and Level 100+ Retirement Account) (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.
Level 100+ AVC Application and Amendment form (PDF, 182KB)
Level 100+ Investment Instruction form (PDF, 131KB)
Level 100+ Target Retirement Age Change form (PDF, 84KB)
Level 100+ Transfer In Enquiry form (PDF, 78KB)
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 >