BAE Systems operates some of the largest DB schemes in the UK, covering over 150,000 members. Following a recent review of actuarial service provider arrangements, the Trustees of the four BAE Systems pensions schemes selected LCP to take on these roles, with the first three effective from 1 April 2026.
The appointments are as follows:
LCP CEO, Aaron Punwani, as Scheme Actuary to the BAE Systems Pension SchemeLaura Amin as Scheme Actuary to the BAE Systems Executive Pension SchemeEdward Symes as Scheme Actuary to the Royal Ordnance Senior Staff Pension Scheme
In addition, LCP’s Jeremy Dell will also be appointed as Scheme Actuary to the Royal Ordnance Pension Scheme with effect from 1 July 2026.
Aaron Punwani, LCP CEO, commented: “We are delighted to have been appointed to support BAE Systems’ pension schemes. These are long-standing, high-profile schemes with a clear focus on strong governance and robust outcomes for members. We look forward to working with the Trustee Boards, the BAE Systems in-house team and our co-advisers to help navigate the evolving pensions landscape and deliver the highest-quality actuarial insight and advice.”
Katie Lambert, Reward Director, Pensions at BAE Systems, said on behalf of the schemes: “The Trustees across our four DB schemes worked together on this governance-led review of actuarial services. LCP impressed from the start and since their appointment have seamlessly integrated into the advisory team. We look forward to working with the appointed Scheme Actuaries and the LCP teams.”
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