This affects the Defined Contribution (DC) savings of all active and deferred members of the Babcock Retirement Savings Scheme (BRSS), which is part of the Babcock International Group Pension Scheme (BIGPS).

You should have received, or will soon receive, a letter and Q&A document from the Trustee of the BIGPS, which contain more detailed information.

Transition to the Babcock International Group MasterTrust (BIG MasterTrust)

For current employees who were members of the BRSS, as of 1 October 2024, you became a member of the BIG MasterTrust, a section of the Aon MasterTrust. You should have already received, or will soon receive, a welcome pack from the BIG MasterTrust.

The Company (Babcock International Group plc) has requested that the BIGPS Trustee transfer your DC savings from the BRSS to the BIG MasterTrust. After careful consideration, the Trustee agreed that this transfer is in the best interest of all members. The transfer is expected to occur between mid-January and the end of February 2025.

Former employees who are still members of the BRSS will become members of the BIG MasterTrust once the transfer is completed and will receive a welcome pack from the BIG MasterTrust around the same time.

Notice period

By law, we must give you at least one month's notice before transferring your DC savings. The letter that you should have received, or will soon receive from the BIGPS Trustee serves as that notice.

Your Defined Benefit (DB) pensions

Please note that this transfer does not affect any DB pension entitlements you may have in any of the Group’s other schemes (including the BIGPS). However, it will include any DC savings from Additional Voluntary Contributions (AVCs) in the BRSS.

Blackout period

To ensure a safe and secure transfer, there will be a 'blackout period' starting 6 January 2025, where you won’t be able to access your BRSS Personal Account. It will be closed following the transfer.

If you need to access your BRSS benefits, please ensure all of your paperwork is completed and received by Aviva by 3 January 2025.

After the transfer, there will be a brief period (about a week) where you won’t have full access to your DC savings in the BIG MasterTrust. During this time, you can log in to your BIG MasterTrust account to view your information but cannot carry out any transactions.

Investment of your savings

Your transferred savings will be invested depending on your circumstances and the letter issued to you by the BIGPS Trustee sets this out in detail.

Please ensure that any changes to your investment choices are made before 31 December 2024.

Following the transfer you can change your investment choices at any time through your BIG MasterTrust account.

Checking your current savings

To view the current value and investment details of your BRSS savings, visit MyWorkplace to access your Aviva record. You will need your Aviva policy number. This can be found on any correspondence you’ve received from them. If you need help, please contact Aviva on 0800 404 6539 or email them at babcock@aviva.com.

What happens next?

After the transfer, you’ll receive a confirmation letter from the BIG MasterTrust confirming the transfer.

We encourage you to read the Q&A document that is enclosed with your letter from the BIGPS Trustee. It contains more information about what is happening and has contact details if you have any questions.