Your defined contribution AXA pension

Build and grow

Did you know that the maximum State Pension is currently £159.55 per week, is this enough to live off?

As you are still some way from retirement, there is plenty of time for the money you save now to grow. So it’s worth thinking about how much you pay in. Imagine that from the age of 40 you stopped buying a £2.50 cup of coffee every day and saved that money in your Personal Account instead.  That £2.50 a day could mean an extra £912.50 saved every year, or £22,812.50 by the time you retire at age 65. If you also assume some investment growth, for illustration purposes say 5% each year, it could be worth over £40,000 when you reach age 65.

Our video below explains how the AXA Scheme works.

Pensions Explained
Pensions Explained
Find out more about saving and investing your Personal Account by clicking on the wheel.