Provider: AXA Product: Group Personal Pension ' Investor Fund Range Commission basis of this ...
Product: Group Personal Pension ' Investor Fund Range
Commission basis of this product option:
Initial commission ' 15% of annual premium (no renewal commission) or 0.25% fund based commission.
Minimum number of lives:
The minimum number of lives is five.
Accepts self-employed members:
Minimum/maximum age attained at entry:
The minimum age is 18, and the maximum age is 74.
Minimum term for regular premiums:
There is no minimum term.
Minimum monthly premium (£ per month):
The minimum total regular gross contribution permitted (per member) is £20 per month.
Minimum additional single premium (£):
There is no minimum additional single premium.
Premiums can be expressed as a percentage of salary:
Regular premiums collected by direct debit mandate:
Regular premiums collected by cheque and list/cheque and disk method:
Automatic regular premium increases:
If premiums are a fixed amount, there is an option to increase them each year by 5%.
Policy fee in respect of regular premium plans:
There is no policy fee for regular premiums.
One-off installation fee in respect of regular premiums:
There is no installation fee for regular premiums.
Initial charge incorporated in the bid/offer spread:
There is no bid/offer spread.
Annual fund management charge for internal fund links (% per annum):
The standard annual management charge is 1% but this can vary depending on the level of commission taken. The AXA With Profits fund has an additional annual management charge of 0.30%.
The AXA Choice Income and AXA Choice Growth funds have an additional annual management charge of 0.40%.
Additional fund management charge for external fund links (% pa):
For the 13 unit trust links there is an additional fund management charge ranging from 0.30% to 0.80%.
Early surrender charge in respect of regular premiums:
There is no early surrender charge.
Regular premium allocation rates (%):
The allocation rate is 100%.
Allocation rates for DSS contributions with a regular premium:
Number of fund links available:
There are 44 fund links available.
Unitised with profits fund available:
Unit-linked insurance funds available:
AXA UK Tracker
AXA Retirement Distribution
AXA Global Managed
AXA Index Linked
AXA Global Distribution
AXA UK Equity
AXA North America
AXA Global Equity
AXA Higher Income
AXA Fixed Interest
AXA UK Opportunities
AXA World Opportunities
AXA Choice Income
AXA Choice Growth
A choice of seven lifestyle funds:
AXA Retirement Fund 2010
AXA Retirement Fund 2015
AXA Retirement Fund 2020
AXA Retirement Fund 2025
AXA Retirement Fund 2030
AXA Retirement Fund 2035
AXA Retirement Fund 2040
Unit trust links available:
AXA Baillie Gifford Managed
AXA Close UK ' Escalator 100
AXA JPMF Premier Equity Growth
AXA JPMF UK Dynamic
AXA JPMF Global
AXA Newton Managed
AXA Newton Higher Income
AXA Newton International Bond
AXA Newton Continental European
AXA Newton Oriental
AXA Framlington American Growth
AXA Framlington Health
AXA Framlington Exempt Balanced
External fund links available:
Index tracker/passive managed funds available:
AXA UK Tracker
Ethical/environmental fund links available:
Maximum number of links:
The maximum number of fund links is 10.
Minimum premium per fund
There is no minimum premium per fund.
Number of free switches per year/Charge per fund switch (£):
All fund switches are free of charge.
Reduction in premiums permitted subject to the current minimum:
Regular premiums may be temporarily suspended without penalty:
Period of time after which premiums must be recommenced:
There is no limit.
Plan may be made paid up and reinstated without penalty:
Terms on early retirement:
No penalties apply on early retirement.
Automatic phased switching from equities to fixed interest and cash:
Standalone premium protection product available:
Yes, the minimum number of lives within the scheme is five.
Premium protection cover Provider:
Swiss Life UK plc
Minimum deferred period:
The minimum deferred period is 13 weeks (this is the default period). Deferred periods of 26 and 52 weeks are also available (different deferred periods within the plan are not allowed).
Minimum/maximum age attained for cover:
The minimum age is 16, and the maximum age is 64.
Age cover ceases:
Cover ceases at age 65.
Definition of disability for premium protection cover:
An activities of daily working (for example, walking, climbing, bending, communication, eyesight, dexterity, responsibility and independence and financial independence) definition applies to all schemes.
The assessment should take into account what the person can usually manage and not the occasional extremes and are caused by proven medical impairment.
Exclusions: Swiss Life will not pay a claim if disability is directly or indirectly as a result of infection by any human immunodeficiency virus (HIV) acquired syndrome (AIDS) or any similar or related condition or syndrome.
Premium protection cover increases automatically during a claim:
Yes, although benefit indexation is not available at all times.
Cost of premium protection cover:
For all schemes a unit rate is calculated based upon the total potential disability benefit and total number of eligible lives at the commencement date and first scheme anniversary.
Death benefit basis:
Return of fund.
Number of segments available:
There are 1,000 segments available.
Phased retirement permitted:
Income withdrawal facility available:
Alternative commission shapes available:
The commission menu offered is:
• 15% of annual premium initial commission (no renewal commission)
• 0.25% fund based commission (no renewal commission)
• 3% level commission
• Nil commission
Initial commission plus fund based commission is available.
Level commission plus fund based commission is available.
Slendebroek CEO since 2014
For clients and social change
Our weekly heads-up for advisers
According to Cicero report
Adds 24 staff, three offices and £275m AUA