Your defined contribution AXA pension

How my money grows?
How can I
pay more

How can I contribute more?

Please select which company you are an employee of:

AXA UK: AXA Insurance, AXA UK, AXA PPP healthcare, AXA Group Solutions, AXA Wealth (Architas), Swiftcover, AXA Tech and AXA Global Life UK

Increase your contribution in order to receive the maximum contribution from AXA

As a default we ask employees to pay the contribution necessary to receive the maximum employer contribution available from AXA, based upon their age and service in the Scheme. If you have chosen to pay a lower contribution and now wish to increase your contribution to get the maximum amount available from AXA, please complete the AXA UK Contribution Election Form.

Pension Top Up

You can choose to have additional contributions made on your behalf to the pension scheme through pension top up. This means that you give up part of your pay equivalent to the gross amount that you would like to pay as an additional contribution to the pension scheme. The Company then pays this amount over to the Scheme on your behalf. Therefore, you do not pay income tax or National Insurance on any contributions.

If you wish to ’Pension Top Up’ this can be carried out through the monthly Flex window in the MyBenefit site.

Additional Voluntary Contributions (AVCs)

Regular additional payments can be made through Pension Top Up, however if you wish to make additional single payment lump sums (outside the bonus sacrifice window), this is classed as an AVC. You get income tax relief on any AVCs that you pay, however you won’t receive any National Insurance savings.

If you wish to make a lump sum AVC, you will need to complete a lump sum AVC option form and return this to payroll.

Please note that you can’t receive tax relief on contributions in excess of your earnings in a tax year and you only receive higher rate tax relief to the extent that you have paid it

Bonus sacrifice

Rather than receiving your bonus in your take home pay in February which is subject to tax and National Insurance, in return for waiving your bonus, AXA will make a contribution into the AXA UK Group Pension Scheme. This arrangement will allow you to benefit from savings in both Tax and National Insurance contributions.

Further details on the 2017 bonus sacrifice scheme will be announced shortly.

AXA Ireland

Increase your contribution in order to receive the maximum contribution from AXA

As a default we ask employees to pay the contribution necessary to receive the maximum employer contribution available from AXA, based upon their age and service in the Scheme. If you have chosen to pay a lower contribution and now wish to increase your contribution to get the maximum amount available from AXA, please complete the AXA UK Contribution Election Form.

Pension Top Up

You can choose to have additional contributions made on your behalf to the pension scheme through pension top up. This means that you give up part of your pay equivalent to the gross amount that you would like to pay as an additional contribution to the pension scheme. The Company then pays this amount over to the Scheme on your behalf. Therefore, you do not pay income tax or National Insurance on any contributions.

If you wish to ’Pension Top Up’ this can be carried out by completing the Pension Top Up Form and returning it to your local HR.

Additional Voluntary Contributions (AVCs)

Regular additional payments can be made through Pension Top Up, however if you wish to make additional single payment lump sums (outside the bonus sacrifice window), this is classed as an AVC. You get income tax relief on any AVCs that you pay, however you won’t receive any National Insurance savings.

If you wish to make a lump sum AVC, you will need to complete a lump sum AVC option form and return this to payroll.

Please note that you can’t receive tax relief on contributions in excess of your earnings in a tax year and you only receive higher rate tax relief to the extent that you have paid it

Bonus sacrifice

Rather than receiving your bonus in your take home pay in February which is subject to tax and National Insurance, in return for waiving your bonus, AXA will make a contribution into the AXA UK Group Pension Scheme. This arrangement will allow you to benefit from savings in both Tax and National Insurance contributions.

Further details on the 2017 bonus sacrifice scheme will be announced shortly.

AXA Liabilities Managers

Additional Voluntary Contributions (AVCs)

These contributions can be paid as regular contributions via payroll or as a one off lump sum. You get income tax relief on any AVCs that you pay.

To make a regular AVC, please complete the regular AVC form and return it to your local HR. As with other contributions, they must be paid as a percentage of Pensionable Salary. The minimum AVC is 1% of Pensionable Salary and your chosen contribution must be in either whole or in half percent’s.

If you wish to make additional single payment lump sums (outside the bonus sacrifice window), you will need to complete a lump sum AVC option form and return this to your local HR.

Please note that you can’t receive tax relief on contributions in excess of your earnings in a tax year and you only receive higher rate tax relief to the extent that you have paid it.

Bonus sacrifice

Rather than receiving your bonus in your take home pay which is subject to tax, in return for waiving your bonus, AXA will make a contribution into the AXA UK Group Pension Scheme. This arrangement will allow you to benefit from tax savings.

AXA Health Services (ICAS)

Pension Top Up

You can choose to have additional contributions made on your behalf to the pension scheme through pension top up. This means that you give up part of your pay equivalent to the gross amount that you would like to pay as an additional contribution to the pension scheme. The Company then pays this amount over to the Scheme on your behalf. Therefore, you do not pay income tax or National Insurance on any contributions.

If you wish to ’Pension Top Up’ this can be carried out by completing the Pension Top Up Form and returning it to HR Payroll in Bolton.

Additional Voluntary Contributions (AVCs)

Regular additional payments can be made through Pension Top Up, however if you wish to make additional single payment lump sums (outside the bonus sacrifice window), this is classed as an AVC. You get income tax relief on any AVCs that you pay, however you won’t receive any National Insurance savings.

If you wish to make a lump sum AVC, you will need to complete a lump sum AVC option form and return this to payroll.

Please note that you can’t receive tax relief on contributions in excess of your earnings in a tax year and you only receive higher rate tax relief to the extent that you have paid it

AXA Health Online

Pension Top Up

You can choose to have additional contributions made on your behalf to the pension scheme through pension top up. This means that you give up part of your pay equivalent to the gross amount that you would like to pay as an additional contribution to the pension scheme. The Company then pays this amount over to the Scheme on your behalf. Therefore, you do not pay income tax or National Insurance on any contributions.

If you wish to ’Pension Top Up’ this can be carried out by completing the Pension Top Up Form and returning it to HR Payroll in Bolton.

Additional Voluntary Contributions (AVCs)

Regular additional payments can be made through Pension Top Up, however if you wish to make additional single payment lump sums (outside the bonus sacrifice window), this is classed as an AVC. You get income tax relief on any AVCs that you pay, however you won’t receive any National Insurance savings.

If you wish to make a lump sum AVC, you will need to complete a lump sum AVC option form and return this to payroll.

Please note that you can’t receive tax relief on contributions in excess of your earnings in a tax year and you only receive higher rate tax relief to the extent that you have paid it

AXA XL

Additional Voluntary Contributions (AVCs)

These contributions can be paid as regular contributions via payroll or as a one off lump sum. You get income tax relief on any AVCs that you pay.

AXA will also match your contribution on regular AVCs, up to a maximum of 3%.

To make a regular AVC, please complete the regular AVC form and return it to your local HR. As with other contributions, they must be paid as a percentage of Pensionable Salary. The minimum AVC is 1% of Pensionable Salary and your chosen contribution must be in either whole or in half percent’s.

If you wish to make additional single payment lump sums (outside the bonus sacrifice window), you will need to complete a lump sum AVC option form and return this to your local HR.

Please note that you can’t receive tax relief on contributions in excess of your earnings in a tax year and you only receive higher rate tax relief to the extent that you have paid it.

Bonus sacrifice

Rather than receiving your bonus in your take home pay which is subject to tax, in return for waiving your bonus, AXA will make a contribution into the AXA UK Group Pension Scheme. This arrangement will allow you to benefit from tax savings.


AXA Investment Managers

Additional Voluntary Contributions (AVCs)

These contributions can be paid as regular contributions via payroll or as a one off lump sum. You get income tax relief on any AVCs that you pay.

To make a regular AVC, please complete the regular AVC form and return it to your local HR. As with other contributions, they must be paid as a percentage of Pensionable Salary. The minimum AVC is 1% of Pensionable Salary and your chosen contribution must be in either whole or in half percent’s.

If you wish to make additional single payment lump sums (outside the bonus sacrifice window), you will need to complete a lump sum AVC option form and return this to your local HR.

Please note that you can’t receive tax relief on contributions in excess of your earnings in a tax year and you only receive higher rate tax relief to the extent that you have paid it.

Bonus sacrifice

Rather than receiving your bonus in your take home pay which is subject to tax, in return for waiving your bonus, AXA will make a contribution into the AXA UK Group Pension Scheme. This arrangement will allow you to benefit from tax savings.


What if I can’t afford the pension contributions?

AXA UK

If you can’t afford to sacrifice the default pension contribution, then it is possible to reduce the amount the pension scheme costs you, or opt-out of the pension scheme entirely. Please think very carefully about any of these options and the impact this will have on your retirement planning.

Reducing Your Contribution

You can reduce your contribution into the pension scheme, down to the minimum for your age band, as set out in the table below. Please be aware that reducing the contribution you pay will also reduce the contribution you receive from AXA. If you don’t want to lose out on the additional contributions from AXA, but you want to reduce the cost of being in the pension, you may want to think about ‘Pension Flex’.

Pension Flex

During the annual benefits election window, you have the option to ‘Pension Flex’. This is where you take some of the Company contribution into the pension scheme as cash in your salary. You can reduce the Company contribution down to the minimum % as shown in the table below.

This effectively means that you can reduce your contribution into the pension scheme, without losing the matched contributions from AXA.

Please note: you are unable to take advantage of our Pension Flex package if you don't pay the maximum contribution.

Minimum Company contributions (as a % of Pensionable Salary)
Age Minimum Company contribution
Up to 24  3%
25-34  5.5%
35-44 10.5%
45 and above 13%

Opting Out

You do have the option to opt-out of the pension scheme. However, if you do this:
- The company contributions paid into your pension account by AXA
- Your life cover will reduce from 10x salary to 4x salary
You will also lose the option of using ‘Pension Flex’ or ‘Life Cover Flex’ during the annual benefits election window.

Life Cover Flex
During the annual benefits election window, you have the option to ‘Pension Flex’. This is where you can reduce the amount of life cover you have and receive the money as cash in your salary.
This is unlikely to be a large amount of money, but if you are thinking about opting out of the pension scheme, reducing your life cover from 10x salary to 4x salary (the same amount it would be if you opted out of the pension scheme) may help subsidise the cost of your pension contributions.

AXA Ireland

If you can’t afford to sacrifice the default pension contribution, then it is possible to reduce the amount the pension scheme costs you, or opt-out of the pension scheme entirely. Please think very carefully about any of these options and the impact this will have on your retirement planning.

Reducing Your Contribution

You can reduce your contribution into the pension scheme, down to the minimum for your age band, as set out in the table below. Please be aware that reducing the contribution you pay will also reduce the contribution you receive from AXA.

Opting Out

You do have the option to opt-out of the pension scheme. However, if you do this you will lose all of the company contributions paid into your pension account by AXA.

If you still want to opt-out, you will need to complete and return an Opt out form to your local HR.

AXA Health Services (ICAS) and Health-on-Line

If you can’t afford the pension contribution then you do have the option to opt-out of the pension scheme. However, if you do this you will lose all of the company contributions paid into your pension account by AXA.

If you still want to opt-out, you will need to complete and return an Opt out form to HR Payroll in Bolton.

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