AXA UK postpones launch of flex

Axa UK has delayed implementation of its planned flexible benefits scheme until 2008 due to a company restructure.

The firm, which has 11,000 staff and includes AXA Life, AXA Shared Services, AXA Insurance and AXA PPP Healthcare, had intended to launch flex in October this year but has put this off due to the company restructuring.

Michelle Cuthbertson, head of reward, said: "We are delaying any implementation of flex until 2008 mainly because there is a huge amount going on in the business already. [With the] restructuring, we [were] worried that the impact of the communication [would be lost]."

The firm is currently looking at how a scheme could be structured. "We are looking at ways that we can create a flex pot, either out of existing money or out of savings that we could get from various salary sacrifice schemes," Cuthbertson added.

In the meantime, AXA will launch a cycle-to-work scheme and salary sacrifice on mobile phones for staff in May. A 3% take-up rate is expected for each benefit.