AXA dumps initial commission on group pensions

A spokesman says the firm wants to focus its corporate benefits business on fee-based distribution partners in the future. AXA will still offer its flexible adviser remuneration model, which is based on the customer agreed remuneration concept outlined in early drafts of the RDR. Since the acquisition of Winterthur in 2007, the pension proposition has been targeted at medium and large employers who want to offer holistic pension and employee wealth plans, AXA says. A spokesman says this is the right way forward for the firm "in light of the new economic landscape, an assessment of the...