AXA are today issuing comms to all staff detailing Smart Working rules exceptions and employee bases for location independent workers. Additionally some outcomes of the reviews of existing agreed exceptions are being communicated to individuals.
If you are impacted by the review or have concerns about the contents of the contents of the communications please speak to your union rep at the earliest opportunity to get their support during any process that may need to be undertaken.
This statement applies to all AXA UK employees other than those in AXA Health. The 2025 pay budget (the amount available to spend) has been negotiated by AXA and Unite. Regarding pay:
A 3.5% pay review budget has been offered for the Unite bargaining group (Associates, Senior Associates and Professionals). Pay awards for each of these grades will be distributed via a fixed matrix which accounts for an individual’s 2024 performance and current position in the pay range.
A 2.5% pay review budget will be provided to Senior Professionals, Leaders and Senior Leaders. Individual pay awards for AXA employees in these grades will be made by manager discretion.
We’re also pleased to announce that changes will be made to benefits to offer more wellbeing support, and more support to new parents. This includes:
Introducing the Employee Medical Benefit Scheme (EMBS) to AXA employees in AXA Insurance and AXA UK Support Functions who sit in Associate – Professional grades, effective from 1 July 2025.
Adding neurodiversity support and menopause support to the scheme for all AXA employees from 1 January 2026.
Improving AXA’s maternity leave offering, increasing the period of full pay from 16 weeks to 26 weeks and removing the eligibility period, also effective from 1 July 2025.
Unite members will go to ballot (i.e. vote on the offer) between 4 – 14 February and all pay increases will be effective 1 April 2025. AXA Health has also released their own pay statement today on ONE.
Overall budgets
Negotiations have now concluded with an offer of a 3.5%overall pay budget increase for all e across the Associate to Professional grades. This reflects an above inflationary increase (CPI). AXA employees in these grades will also see the introduction of the EMBS provided by AXA Health.
Similarly, a budget increase of 2.5%will apply to the Senior Professional to Senior Leader grades, as agreed during a consultation which also included Vox and AXA’s Manager Representatives. This is in line with CPI inflation and keeps our pay for this group in line with the market.
These budgets are increased irrespective of the significant increases in Employers National Insurance, which are broadly equivalent to 2.2% of current salary bill.
How AXA distributes pay awards – matrix vs. discretionary approaches
AXA distributes pay awards based on either a matrix or discretionary approach, according to grade. Both approaches are described in more detail below, but this table shows which approach, and proposed pay budget value, applies to each grade in 2025:
Matrix
Discretionary
Associate
3.5%
N/A
Senior Associate
Professional
Senior Professional
N/A
2.5%
Leader
Senior Leader
Professional grades have been included in the matrix approach for the 2025 pay round as they were in 2024 and 2023. This practice will be reviewed for the 2026 pay round.
2025 Matrix pay distribution approach (Associate, Senior Associate & Professional)
The total 2025 pay budget increase for this group is 3.5%, however the actual pay award for each individual will be influenced by their performance rating and the position of their salary in the pay range. Following the matrix below, this means that larger awards will be provided to those with a higher performance rating and those positioned at the lower end of the pay range.
Managers who are responsible for making pay decisions during the pay review process (also known as Pool Heads) will use their discretion to provide pay awards for AXA employees in Senior Professional to Senior Leader grades, keeping within the 2.5%budget.
Pool Heads consider a range of factors when making a decision on an individual’s pay, including their performance, position in the salary range, the external market and comparison to peers. Outcomes are reviewed centrally to ensure fairness. The process for these checks and the guidance provided to Pool Heads ahead of pay review are reconsidered each year to ensure that they continue to be fit for purpose and lead to appropriate pay outcomes.
Adjustments to pay ranges
In line with AXA UK’s commitment as a Living Wage employer, minimum salaries in the UK pay ranges will be uplifted to the new Living Wage as calculated by the Living Wage Foundation effective from 1 April 2025.
Hourly rate
35 hr/week annualised
37.5 hr/week annualised
National
£12.60
£22,932
£24,570
London
£13.85
£25,207
£27,008
Pay ranges have been assessed again to determine whether further adjustments are required, keeping the external market in mind. The revised 2025 pay ranges will be available in the Leader area on One towards the beginning of March and will be effective 1 April 2025.
Entry and Effective spot rates in Insurance
The Entry and Effective spot rates established in October 2024 to replace the previous development frameworks will be increased effective 1 April 2025. The new hourly rates that will apply are:
Grade
Spot
Rate at 1 Oct 2024
Rate from 1 Apr 2025
Associate
Entry
£12.00/hour (the Living Wage)
£12.60/hour (the Living Wage)
Effective
£12.50/hour
£13.10/hour
Senior Associate
Entry
£13.00/hour
£13.60/hour
Effective
£14.00/hour
£14.60/hour
Next steps
Unite members will go to ballot on this offer between 4 – 14 February. The final pay budget won’t be confirmed until the results of the ballot are known. Unite is a democratic organisation and it is members in AXA who have the final say; if you are a member you are encouraged to vote.
Individual pay outcomes will be formally communicated to AXA employees in March and any pay increases will take effect from 1 April 2025.
There’s more information on the pay review process on the My Pay page on ONE. Please speak to your line manager or Unite representative if you have any further questions.
Tara Foley Chief Executive Officer AXA UK & Ireland
Unite in AXA have issued a newsletter on the 2025 pay survey and the pay claim we submitted to the company today. Please leave your feedback below or talk to your local union rep.
With the 2025 pay talks now on the horizon, we need to hear from you, our members, about what you think. Please complete the pay survey which can be accessed here, and encourage your colleagues to as well.
Unite in AXA have issued a newsletter on staff responses to the changes to Smart Working issued by Group HR in Paris. Please leave your feedback below or talk to your local union rep.
Unite in AXA have issued a newsletter on the changes to Smart Working issued by Group HR in Paris. Please leave your feedback below or talk to your local union rep.
Unite in AXA members are receiving emails and/or SMS messages with a link to vote in the 2024 pay ballot. If you have not received a link by the end of today please contact member.services@unitemailings.org
The details of the offer can be found in the Joint Statement (see post below or on One), the company offering a pay pot of 5% for the Bargaining Unit which we negotiate for (Associate, Senior Associate and Professional). This pot is higher than the current inflation figures (CPI 4% RPI 4.9%) and given the difficult trading year in 2023 the company experienced and the size of other offers across the industry we are recommending members accept the offer.
Additionally the company is introducing AXA Cares from 1st April, a global initiative which sees a minimum standard on a number of family friendly policies across the organisation worldwide. This is something that we have been pushing for through the AXA European Works Council and will see some improvement in UK terms such as a doubling of parental leave and the need for paid dependent leave no longer to restricted to emergencies only.
This statement applies to all AXA UK employees other than those in AXA Health
The 2024 pay budget has been negotiated by AXA and Unite
A 5% pay review budget has been offered for the Unite bargaining group (Associates, Senior Associates and Professionals). Pay awards for each of these grades will be distributed via a fixed matrix which accounts for an individual’s 2023 performance and current position in the pay range
A 4% pay review budget will be provided to Senior Professionals, Leaders and Senior Leaders. Individual pay awards for employees in these grades will be made by manager discretion
Unite members will go to ballot (i.e. vote on the offer) between 14 – 19 February
All pay increases will be effective 1 April 2024
Each year the pay budget (the amount of spend allocated to pay increases) and how it is distributed out to people is reviewed. These elements are negotiated between AXA and Unite for all AXA UK employees in Associate to Professional grades, except for those in AXA Health.
AXA Health has also released their own pay statement today.
Overall budgets
Negotiations have now concluded with an offer of a 5.0% overall pay budget increase for all colleagues across the Associate to Professional grades.
Similarly, a budget increase of 4.0% will apply to the Senior Professional to Senior Leader grades, as agreed during a consultation which also included Vox and AXA’s Manager Representatives.
How AXA distributes pay awards – matrix vs. discretionary approaches
AXA distributes pay awards based on either a matrix or discretionary approach according to employee grade. Both approaches are described in more detail below, but this table shows which approach, and proposed pay budget value, applies to each employee grade in 2024:
Similarly to last year, Professional grades are being included in the matrix pay distribution approach for 2024 awards. The same will also apply for 2025.
2024 Matrix pay distribution approach (Associate, Senior Associate & Professional)
The total 2024 pay budget increase (the amount available to spend) for this group is 5%, however the actual pay award for each individual will be influenced by their performance rating and the position of their salary in the pay range. Following the matrix below, this means that larger awards will be provided to those with a higher performance rating and those positioned at the lower end of the pay range.
Further information about how pay is distributed using the matrix (including how to calculate your position in range) can be found on the 2024 Pay Review page on ONE.
Why is AXA proposing to include the Professional grade in the matrix approach in 2024?
A review took place in 2023 which indicated that most colleagues preferred the simplicity and certainty of the matrix.
As such, we have agreed to continue with this practice for a two-year period, 2024 and 2025 pay review, after which we will review our approach again.
Managers who are responsible for making pay decisions during the pay review process (also known as Pool Heads) will use their discretion to provide pay awards for employees in Senior Professional to Senior Leader grades, keeping within the 4% budget.
Pool Heads consider a range of factors when making a decision on an individual’s pay including their performance, position in the salary range, the external market and comparison to peers. Outcomes are reviewed centrally to ensure fairness. The process for these checks and the guidance provided to Pool Heads ahead of pay review are reconsidered each year to ensure that they continue to be fit for purpose and lead to appropriate pay outcomes.
Adjustments to pay ranges
Minimum salaries in the UK pay ranges will be uplifted above the new Real Living Wage for National and London effective from 1 April 2024.
Pay ranges have been assessed again to determine whether further adjustments are required, keeping the external market in mind. The revised 2024 pay ranges will be available in the Manager area on ONE towards the end of February and will be effective 1 April 2024.
Competency Frameworks
No changes will be made to Competency Framework pay rates at this point (except for Real Living Wage uplifts).
All colleagues who are aligned to competency frameworks will remain in scope for the pay matrix (where applicable).
Next steps
Unite members will go to ballot on this offer between 9am Wednesday 14 February to noon Tuesday 20 February. The final pay budget won’t be confirmed until the results of the ballot are known. Unite is a democratic organisation and it is members in AXA who have the final say; if you are a member you are encouraged to vote.
Individual pay outcomes will be formally communicated to employees in March and any pay increases will take effect from 1 April 2024.
There is more information on the pay review process on the My Pay page on ONE. Please speak to your line manager or Unite representative if you have any further questions.
Tara Foley Chief Executive Officer AXA UK & Ireland Dominic Hook National Officer Unite the Union
