Axa auto-enrols staff into pension

AXA has significantly increased take-up of its trust-based defined contribution pension scheme by auto-enrolling staff into the plan, salary sacrifice and matching contribution arrangements.

Of the scheme’s 7,500 members, just 60 chose to opt out of the salary sacrifice and matching contribution element, and only 7% opted out of the plan altogether. Bob Newcomb, HR services director, said that such a high take-up would have been unlikely without using auto-enrolment.

Axa worked with Mercer to communicate the new elements.