Your defined contribution AXA pension

Starting out

When you’re young, saving for the future might not seem like a priority.

Currently the maximum you can get from the State Pension is only £159.55 per week, so planning for your future sooner rather than later is the smart way to ensure your financial security. 

Imagine that from the age of 25 you stopped buying a £2.50 cup of coffee every day on your way to work and saved that money in your Personal Account instead. That £2.50 a day could be an extra £912.50 saved every year, or £36,500 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 £100,000 when you reach age 65.

Pensions might seem complicated but the idea is a simple one. It is an efficient way of saving for the future, as you get tax relief on your contributions and you also receive contributions from AXA.

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. 

 

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