;
Our complete list of tools and resources is available here.
Our complete list of tools and resources is available here.

June Update

Read the 2020 June Update to learn more about how the Plan works to support your financial wellness and the importance of thinking about the Plan with a long-term view.


  • BOA RP Update
  • BOA RP Active
  • BOA RP Deferred
  • BOA PP Update
  • BOA PP Active
  • BOA PP Deferred
  • Fleet Update
  • Fleet Deferred

Pensions and tax

Find out more about the Government’s latest UK tax-efficient savings limits.

More about the Lifetime Allowance

Report & Accounts summary 2019

Read the 2019 Report & Accounts summary to get a snapshot of the year in numbers and understand how the Trustee looks after your interests and benefits.


  • BOA RP
  • BOA PP
  • Fleet
  • NationsBank

BOARP Funding Update 2020

Read more about the financial position of the Defined Benefit (DB) Section of the Plan in the 2020 Funding update.

Download

Autumn Update 2019

Even if retirement seems a long way off, taking an interest in your Plan savings and taking a few actions now will give you many more options when you get there. Read your Autumn Update to help you on your way.


  • BOA RP Update
  • BOA RP Active
  • BOA RP Deferred
  • BOA PP Update
  • BOA PP Active
  • BOA PP Deferred
  • Fleet Update
  • Fleet Deferred

Spring Update 2019

Discover your new-look Spring Update.


  • BOA RP Update
  • BOA RP Active
  • BOA RP Deferred
  • BOA PP Update
  • BOA PP Active
  • BOA PP Deferred
  • Fleet Update
  • Fleet Deferred

Updates to the Annual Allowance from 6 April 2020

In the 2020 Budget in March, the Government announced some important changes to limits on the Annual Allowance. Read more about the changes here.

Download

Privacy Notices

Read the privacy notices to understand how the Trustee holds and processes personal data about Plan members and beneficiaries in compliance with relevant data protection legislation.


  • BOA RP
  • BOA PP
  • Fleet
  • NationsBank
  • Aon

Consider life assurance through the Excepted Group Life Policy (EGLP)

Take action to protect your loved ones from an unexpected tax bill.

Download

Legal & General Buy-in – 2018

Find out more about the Legal & General ‘buy-in’ exercise that took place in early 2018 for the BoA and NationsBank Plan members.


  • BOA PP
  • NationsBank
  • Fleet

Brexit: what it may mean for your pension

The United Kingdom’s vote to leave the European Union has already impacted financial markets. To help you better understand the impact on your DC pension, read our Brexit summary.

Guidance guarantee – Pension Wise

The Government has unveiled more detail around its new pension guidance service — Pension Wise — which will provide free and impartial guidance to individuals in defined contribution (DC) plans on how they can access their savings from age 55. The guidance will be provided over-the-phone by The Pensions Advisory Service and in person by the Citizens Advice Bureau.

Find out more on the Pension Wise website.

News & updates

June Update

Read the 2020 June Update to learn more about how the Plan works to support your financial wellness and the importance of thinking about the Plan with a long-term view.


  • BOA RP Update
  • BOA RP Active
  • BOA RP Deferred
  • BOA PP Update
  • BOA PP Active
  • BOA PP Deferred
  • Fleet Update
  • Fleet Deferred

Pensions and tax

Find out more about the Government’s latest UK tax-efficient savings limits.

More about the Lifetime Allowance

Report & Accounts summary 2019

Read the 2019 Report & Accounts summary to get a snapshot of the year in numbers and understand how the Trustee looks after your interests and benefits.


  • BOA RP
  • BOA PP
  • Fleet
  • NationsBank

BOARP Funding Update 2020

Read more about the financial position of the Defined Benefit (DB) Section of the Plan in the 2020 Funding update.

Download

Autumn Update 2019

Even if retirement seems a long way off, taking an interest in your Plan savings and taking a few actions now will give you many more options when you get there. Read your Autumn Update to help you on your way.


  • BOA RP Update
  • BOA RP Active
  • BOA RP Deferred
  • BOA PP Update
  • BOA PP Active
  • BOA PP Deferred
  • Fleet Update
  • Fleet Deferred

Spring Update 2019

Discover your new-look Spring Update.


  • BOA RP Update
  • BOA RP Active
  • BOA RP Deferred
  • BOA PP Update
  • BOA PP Active
  • BOA PP Deferred
  • Fleet Update
  • Fleet Deferred

Updates to the Annual Allowance from 6 April 2020

In the 2020 Budget in March, the Government announced some important changes to limits on the Annual Allowance. Read more about the changes here.

Download

Privacy Notices

Read the privacy notices to understand how the Trustee holds and processes personal data about Plan members and beneficiaries in compliance with relevant data protection legislation.


  • BOA RP
  • BOA PP
  • Fleet
  • NationsBank
  • Aon

Consider life assurance through the Excepted Group Life Policy (EGLP)

Take action to protect your loved ones from an unexpected tax bill.

Download

Legal & General Buy-in – 2018

Find out more about the Legal & General ‘buy-in’ exercise that took place in early 2018 for the BoA and NationsBank Plan members.


  • BOA PP
  • NationsBank
  • Fleet

Brexit: what it may mean for your pension

The United Kingdom’s vote to leave the European Union has already impacted financial markets. To help you better understand the impact on your DC pension, read our Brexit summary.

Guidance guarantee – Pension Wise

The Government has unveiled more detail around its new pension guidance service — Pension Wise — which will provide free and impartial guidance to individuals in defined contribution (DC) plans on how they can access their savings from age 55. The guidance will be provided over-the-phone by The Pensions Advisory Service and in person by the Citizens Advice Bureau.

Find out more on the Pension Wise website.

Plan information

To get the most out of the interactivity in the guides below, open them in Internet Explorer.


Plan essentials

New Joiner guide

If you are a new member of the Bank of America UK Retirement Plan, read the New Joiner guide to find out how you can get the most out of the Plan.


  • Bank of America UK Retirement Plan

Plan Handbook

For a reminder of how the Plans work, full details of your options and a reminder of the 3-step plan to getting the most from your savings.


  • BOA RP
  • BOA PP
  • NationsBank Plan
  • Fleet Plan
  • Intern Plan Handbook

3-Step Plan

Find out how to make the most of the Plan's flexible saving options with this simple framework.


  • BOA RP
  • BOA PP

BOA RP Top 10

Take control of your Member Account by following the 10 things you need to know and do in the Plan.

Download

BOA RP FAQs

Find the answers to your questions about the BoAML Plan.

Download

Manage your savings

See the latest value of your savings or make a change to your Account on Orbit, the Plan administration website:

  • BOA RP and BOA PP members use SSO or go to Orbit

BoA PP Contracting Out Leaflet

If you are a member of the Bank of America UK Pension Plan, you will have been contracted out of the State Second Pension. To find out more please read the BoA Contracting Out Leaflet.

Investment information

Lifestyle Guide

Explore the Lifestyle investment options available in the Plan.


  • BOA RP
  • BOA PP/Fleet

BoARP Freestyle summary

Explore the Freestyle investment funds available in the Bank of America UK Retirement Plan.

Download

Fund factsheets

Find out more about the investment funds avalaible to you including the fund managers and charges.


  • BOA RP
  • Lifestyle - summary
  • Freestyle - summary
  • Access Fidelity website
  • BOA PP/Fleet
  • Access Fidelity website

Statement of Investment Principles

Find out more about the investment objectives of the Plans and the strategy set to meet them.


  • BOA RP
  • BOA PP
  • Fleet
  • NationsBank Plan

Financial and funding information

Report & Accounts

Find out about the Plan's finances over the year end 31 December 2019.


  • BOA RP
  • BOA PP
  • Fleet Plan
  • NationsBank Plan

Formal Actuarial Valuation

Read more information on the latest funding position of the Plan.


  • BOA RP
  • BOA PP
  • Fleet Plan
  • NationsBank Plan

Annual Actuarial Report

Find out more about the results of the latest annual funding review.


  • BOA RP
  • BOA PP
  • Fleet Plan
  • NationsBank Plan

Statement of Funding Principles

Learn about how the Trustee invests Plan funds, including the assets of the Plan.


  • BOA RP
  • BOA PP
  • Fleet Plan
  • NationsBank Plan

Schedule of Contributions

See how much money is being paid into the Plan, together with the Plan Actuary's certificate which confirms that the Schedule meets current requirements.


  • BOA RP
  • BOA PP
  • Fleet Plan
  • NationsBank Plan

Forms

Expression of Wish form

Please complete this form to notify the Trustee how you would like your death benefits paid in the event of your death.


  • BOA RP
  • BOA PP

Transfer-in form

Fill out a Transfer-in form if you wish to transfer in savings from a previous employer or personal pension scheme.


  • BOA RP
  • BOA PP

Additional Voluntary Contributions form

Download

Opt-out form

Download

Investment decision form

Download

Tools

Set a target

Budget Planner

Use this planner on the Money Advice Service website to help you see how much you may need in retirement by looking at your current budget.

Benefit statement

See the value of your savings in your latest benefit statement.

View your benefit statement

Save as much as you can afford

Retirement modeller tool

Use the Retirement modeller tool on Orbit, the plan administration website, to see how much you are expected to get from your Account in the Plan when you retire.

Use the Retirement modeller tool

Find out your likely retirement income

Use this tool on the Money Advice Service to estimate your overall retirement income, including your State Pension and any other savings you may have.

Contributions (employee members only)

You can make changes to your contributions anytime during the year on the MyBenefitChoices website here (from the bank’s network). If you’re an MBNA employee, you can change your contributions here (from inside your employer’s network).

Find out more about investing

Investment profiler

Find out what sort of investor you are and consider which investment option may be right for you based on your answers to eight short questions.


  • BOA RP
  • BOA PP
  • Fleet Plan

Retirement planning

Retirement options decision tree

If you are within 15 years of taking your savings, consider your retirement options – try the retirement options decision tree.

Retirement options factsheet: cash

Find out more about using cash.


  • BOA RP
  • BOA PP

Retirement options factsheet: annuity

Find out more about annuities.


  • BOA RP
  • BOA PP

Retirement options factsheet: income drawdown

Find out more about using income drawdown.


  • BOA RP
  • BOA PP

Other retirement information

Research your options

If you are planning to access your savings soon, you may find the Hub Financial Solutions resources and support helpful. Go to the annuity quick quote tool for just that.

Tracing service

Trace any lost pensions on the Pension tracing website.

General assistance with every aspect of retirement

Money Advice Service

Visit the Money Advice Service to find out more about general financial planning and how to find a financial adviser.

Beware of pension scams!

Pension scams are on the rise and it is important you are able to spot one. Scammers are attempting to lure pension scheme members like you with the promise of one-off investments, pension loans or upfront cash in exchange for your pension. Don’t get stung by pension scams!

Pension Wise

Pension Wise is the Governement's pension guidance service.

Pensions tax

Find out more about tax on your pensions on the HMRC website.

Chair's Statement

Plan praise

In May 2019, the Bank of America Merrill Lynch UK Pension Plan was renamed to ‘The Bank of America UK Retirement Plan’ to align with a recent bank rebrand.

BoAML UK Pension Plan wins best approach to governance award 2016

The Bank of America Merrill Lynch UK Pension Plan won the 'Best approach to governance' award at the Pensions Insight DC Awards 2016 for its first-rate standards of governance. The Pensions Insight DC Awards recognise excellence in developing and delivering DC products and services.

Finalist at the Employee Benefits Awards 2016

The Bank of America Merrill Lynch UK Pension Plan was a finalist for the Best Pensions Communications Award at the Employee Benefits Awards 2016. This year, the Plan was recognised for the communication of pension tax changes, ensuring informed decision making.

Finalist at the Pensions Age Awards 2016

The Bank of America Merrill Lynch UK Pension Plan was a finalist for the DC Pension Scheme of the Year and Best Investment Strategy Award at the Pensions Age Awards 2016. The Pensions Age Awards recognise pension schemes and pension providers across the UK for their outstanding contributions to the pensions industry.

BoAML UK Pension Plan wins best investment strategy award 2015

The Bank of America Merrill Lynch UK Pension Plan was awarded the ‘Best DC investment strategy’ at the Professional Pensions ‘Pension Scheme of the Year Awards 2015’. Click here to read more.

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