United Kingdom
BASF UK Pensions

Defined Benefit (DB) Members

There are no longer any active members in the Group DB Section or, from 1 January 2016, in the BPP Hybrid Section so all benefits earned by members will be held in the Scheme as 'deferred benefits' until retirement.  This includes benefits for members who no longer work for BASF.  

Members receiving a pension can also find information here.

 

Funding

At least every three years, a valuation is carried out by the Scheme Actuary.  The valuation is a 'health-check' to see if the liabilities of the Scheme (the amount of money needed to pay the benefits of all members when they come to retire) are covered by its assets (the amount of money in the Scheme and its estimated future income).

The Trustee has a strategy to ensure that the Scheme has enough money to pay benefits as they fall due.  This is recorded in the Scheme's Statement of Funding Principles.

To keep members up to date with how the Scheme is funded, the Trustee issues an annual Summary Funding Statement.

Willis Towers Watson (Scheme Administrators)
PO Box 545, Redhill, RH1 1YX
+44 113 390 7119 (9am-5pm Mon-Fri)
BASF Pension Team
PO Box 4, Earl Road, Cheadle Hulme, Cheshire SK8 6QG
+44 (0)161 488 5659/5704 (8am - 5pm Mon - Fri)