Newsletter 2010

BAE Pensions

We recently received the following email from one of our Veterans. The letter, and an initial comment below it in italic, has already been posted on the MVA website.

I was contacted in November last year by BAE Pensions (Xchanging) to be informed that they have found in an audit that they have made an error in calculating my pension which I took out 3 years ago.  As a result I have been asked to repay approximately £3,000 and take a drop in my monthly pension by £30 per month.

I believe that there may be other pensioners that will be in a similar situation and I’d like to try to contact them.

It is difficult to try to take professional advice on such a sum as the costs would far exceed the amounts involved.  So far I am dealing with The Pensions Advisory Service who is being helpful in trying to understand how such errors happen?  (Apparently they are not uncommon!)

I am in the process of contacting all and sundry to seek assistance so if you have contacts on the BAE Pension Scheme I’d be most grateful. As the old Marconi Pension has been absorbed by so many other companies it is more complicated than many.

I am wondering if you might be able to assist please?  Thanking you in advance.

In the present circumstances it is impossible for the Marconi Veterans’ Association to offer any direct assistance in this matter. We have no legal expertise within the organisation.  However, if other Veterans have had similar problems with the BAE Pension Scheme it may be that a small group acting together could achieve a satisfactory solution to the problem.  If anyone with a similar problem would like to contact us we will put you all in contact with each other.