BAE Systems Pensions News
This funding update applies for members of the following sections of the BAE Systems Pensions:
- BAE Systems Pension Scheme
- Alvis Pension Scheme
- BAE Systems 2000 Pension Plan
- Shipbuilding Industries Pension Scheme
The Airbus Section remains unaffected by this update.
BAE Pension News
In February, trustees of the BAE Pension Scheme announced positive news for its members, who have seen their scheme funding status fall into hard times in recent years. While the recent market crash has caused concern for businesses and investors globally, BAE’s promise of £1bn funding injection into their struggling pension scheme seemed uncertain.
We’re pleased to confirm that on 17th April 2020, the full £1bn payment was made and received. With this, the pension scheme, which was reported to be £1.9bn in deficit in October 2019 will certainly have a chance of recovery.