A message from the Trustees

25 March 2022

The war in Ukraine is causing distress and suffering for millions of people. We’re reassured that none of our members reside in either Ukraine or Russia. But our thoughts are very much with all those affected by what’s happening.

The war has also created uncertainty on the world stage and led to some volatility in the investment markets. Because the money in the AXA UK Group Pension Scheme is invested, it’s natural to ask if pensions could be affected at all.

Members’ investments continue to be well-protected

As the Trustees of the Scheme, our priority is always that our members’ pensions are protected. We make sure of that in lots of ways, one of which is by having the money in the Scheme invested in a diverse range of sectors and markets. So, if one kind of investment loses value for any reason, our investments overall are not disproportionately affected.

That continues to be the case, and you can rest assured that members continue to receive their pension payments as usual.

If we need to take any action, it will be considered and advised

It’s important that we don’t make any hasty or ill-advised moves that could negatively affect our investments. So we’re keeping an eye on the investment markets and making sure we’re prepared for any potential issues.

If we have any news about our investments, we’ll update this website

It’s hard to predict how events will develop and the scale of any impact. But we’re confident that the Scheme continues to be in a strong financial position and that pensions are well protected. If we have any updates to share in future, we’ll post them on this website. And if anything were to affect your pension, we’d write to you about it.

In the meantime, if you have any questions or specific concerns about this, do contact the AXA UK Pensions Team by email pensions.uk@axa.co.uk.