You can find information here about the BASF UK Group Pension Scheme for all members - including current employees (active members), former employees (deferred members) and those receiving a pension (pensioners). Use the links below to navigate to the appropriate page. New or existing employees looking to join the Scheme can find the forms they need towards the bottom of this page.
What's New - New Pension Scheme Administrators
How the Scheme is managed is of the utmost importance to BASF and the Trustee, as is the service you receive from the teams working with us. To ensure our Scheme is being run as effectively as it possibly can be, we regularly review our procedures and providers. As a result, we are pleased to announce that we are changing the administration of the BASF UK Group Pension Scheme to Buck from 4th November 2019.
In September leaflets were sent to all members in the post and here is a copy of the active member version.
Pension Scams
There's been an increase in pension scams over recent years so it's important you're aware of the dangers associated with them. The earliest age you can draw your pension from an occupational pension scheme (like the BASF Scheme) is 55 under current UK legislation. Scams often involve offering members the opportunity to access their pension savings prior to age 55. These alternative arrangements are sometimes presented as pension 'loans', but ultimately they end up leaving individuals with a very high administration fee and tax bill from Her Majesty's Revenue and Customs ("HMRC") which can be more than half the value of their pension fund. Please be vigilant if you receive such an approach, or indeed any unsolicited approach regarding your pension and read the information provided by the Pensions Regulator from the link below. We also recommend that you consult a professional advisor, such as an independent financial advisor, before taking any action.
Do I have defined contribution (DC) benefits or a defined benefit (DB)?
Your annual benefit statement will confirm the details of your own benefits. Some members have DC benefits, some have DB and some have both. If you are unsure of your own benefits, please contact the Scheme Administrator, Willis Towers Watson on 0113 390 7119.