BRITISH AMERICAN
TOBACCO
UK
PENSION
FUND
FYI
Winter 2013
DB
Your first port of call for answers
to questions about your pension:
The BAT Pensions
Administration Team
Capita
Hartshead House
2 Cutlers Gate
Sheffield S4 7TL
Telephone:
+44 (0) 114 229 7609
Email:
Welcome
to your 2013 edition of FYI magazine,
which has been designed for members of the Defined
Benefit (DB) Section of the Fund.
The most powerful form of communication is face to face – talking to
someone! This is even more important when it comes to explaining difficult
subjects like pensions. Of course, we can’t speak to all our members
regularly, but we can share the experiences of members and our experts. For this edition of
FYI magazine, we have focused more than ever on sharing the real experiences of members of
the Fund. On
we speak to Linda Drake and Nick Boham, partners who retired from BAT
in the summer of 2012. They are busy making the most of their retirement, but agreed to spend
time sharing their experiences and advice about the run-up to retirement and the realities of
managing your finances when you stop working.
We also want to take this opportunity to tell you all the news about the Fund – what’s been
happening over the past year and what is still to come. On
one of our team of pensions
experts, Christian Hardy the Fund’s Actuary, talks about the formal valuation of the Fund that
is due next year. This is an in-depth review of the finances of the Fund that happens once every
three years; it is carried out to ensure there is enough money to pay members’ pensions and any
other benefits they and their families are entitled to from the Fund. Christian also explains your
2013 Summary Funding Statement, which is on the website at
In this article we have highlighted some of the key figures from the Summary
Funding Statement, such as the contributions that the Company makes to meet the costs
associated with the Fund.
Look out for more facts and figures about the Fund throughout the magazine; these are taken
from this year’s formal Annual Report and Accounts. To request a copy of the report, contact
the BAT Pensions Administration Team.
In our regular ‘Hot Topics’ section on
we update you on the progress of
auto-enrolment, explain the consolidation of the Rules of the Fund, and warn members about
Pension Liberation Schemes, which may fraudulently attempt to make people release money
from their pension in advance of retirement.
We have spent some time interviewing the people that work together to make sure that the
Fund runs smoothly. The BAT Pensions Administration Team (run by Capita) are experts on
the Fund and are always on hand to answer any questions you might have about your Fund
pension. At any stage of your career, you might have questions about your pension and they
are the people to ask. On
they provide answers to some of the most common questions
received from people calling the helpline.
We hope that, in this edition, the combination of the expertise of our advisers and the stories
from our members will offer you a real insight into how the Fund works.
Brian Barrow,
Chairman of the Trustee Board of the BAT UK Pension Fund
As always, we hope you
enjoy the magazine! This year
we invite you to take part
in a short quiz about the
magazine. If you answer
the 5 questions correctly
you will be entered into a
prize draw to win £100 of
retail vouchers. Simply visit
