Member Login 
Introducing the Baxi Pension Scheme
Our Pension Scheme is a key component in ensuring our employees are looked after. It works like this:
Throughout your Scheme membership, your contributions and the Company’s contributions are pooled in your Retirement Account. The amount of money collectively contributed into this account, in addition to the investment returns it potentially generates, will determine how much money you have to spend at retirement – whenever and however you choose to take it.
Meet the trustees
The Trustee Board is set up as a Trustee Company (Baxi Group and Newmond Pension Trustees Limited), which is in charge of the day-to-day running of the Scheme. The trustees are Trustee Directors, rather than individual trustees, and the Directors are in charge of making decisions in relation to the Scheme. They provide important, objective, oversight to ensure that Baxi employees really are getting the best deal possible when it comes to their Pension Scheme.
Professional Trustee / Chair
BESTrustees plc
Represented by Chris Parrott
Company Nominated Trustee Directors
Simon Oliver
Steve Randall
Claire Carlin
Diane Sutherland
Member Nominated Trustee Directors
John McFaull
Katie Wright
Back to Basics
Whilst your State Pension will provide you with an income at retirement, it is unlikely to be enough to allow you to maintain your current lifestyle. That’s why saving into the Baxi Group Pension Scheme is important – to boost your income at retirement and help you achieve your retirement goals!
A defined contribution scheme works in a similar way to a savings account. Each month, you pay a percentage of your salary into your pension pot and Baxi will also pay in an agreed percentage. Over time, as you and Baxi continue to pay in contributions, we would expect your pension pot to grow. Unlike a regular savings account, rather than receiving interest on your savings, you will receive investment returns depending on which investment option you select. From age 55 and over, you are then able to access the value of your pension pot, although you cannot access your pension pot whilst you are still employed by Baxi. This will increase to age 57 and over in 2028.
The value of that pot depends on your contributions, the investment options you choose and how those investment options perform over the course of your working life, and how long your working life lasts.
We provide you with an annual statement that should give an indication of what you might be expected to get at retirement. You can also get an up to date value for your Retirement Account at any time by logging in to our member portal here www.mybaxipension.co.uk. There is a modeller on the portal which allows you to explore your investment choices and retirement options in more detail. It can show you the impact on your Retirement Account of picking different investment options or changing your contributions. You can also see how much you might get at retirement if you select different retirement options.
As investment markets move, the value of your funds may go up and down. But this doesn’t mean you should shy away from investing in riskier assets like shares, particularly when you are in the early stages of your career. You want your investments to grow, and that’s difficult to achieve if you only choose lower-risk investments such as cash or bonds. Historically, shares have outperformed cash and bonds over the long term, but be aware that there are no guarantees they’ll always do that as past performance is not a guide to future performance.
As you make contributions, you may want to invest in a variety of assets. This is called “diversity of assets” and aims to protect your money by spreading it across a wider collection of assets. The value of diversity is that, if particular assets underperform, they could potentially be compensated for by the other assets in your portfolio. If you have ever heard the old saying “don’t put all your eggs in one basket” then you already understand the importance of diversity. The lifestyle funds in the Scheme help to achieve this and you can read about them in the investment section.
