Unite in AXA reps will be issuing ballot papers to members to allow them to vote in the pay ballot that runs from today to 14th February. If you do not receive a ballot paper, please contact your local reps.
Details of the pay offer can be found in the Joint Statement (see below or on ONE) and sees a 3.5% pay pot for Associates to Professionals distributed via a pay matrix, all staff receive private medical insurance from 1st July and increased maternity leave benefit.
The pay offer is in line with inflation and what other insurers are offering, but with the provisional of PMI and improved maternity terms on top and we are recommending acceptance of the company offer by members.
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
