Proposed changes to your Defined Contribution (DC) pension arrangements

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Following a recent review of the AXA UK Group Pension Scheme, we’re consulting on a proposal to replace the DC section with a different arrangement called a ‘Master Trust’ from 1 May 2020.

If the change goes ahead, this would mean:

  • The DC section would close on 30 April 2020;
  • a new Master Trust arrangement would be set up in its place; and
  • any savings already built up in the DC section would be transferred to the Master Trust.

It’s a legal requirement that we consult with impacted employees about the proposal and have entered into a 60-day consultation period which will run from 10 February to 10 April 2020. During this period, members (and anyone who is eligible to become a member of current Scheme) are invited to provide feedback and ask questions via a dedicated consultation inbox at axamastertrustuk@axa-uk.co.uk.

All affected employees have been sent a consultation pack explaining the proposal in detail, but you can find out more by clicking the links below. Please revisit this page during the consultation period as we will be providing regular updates to the FAQs as we receive your feedback.

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