At Adobe, we think it’s never too early or too late to start saving for retirement. That’s why we offer a defined contribution (DC) pension plan (or DC PERO pension plan) through AXA.
The amount you receive from your plan when you retire depends on how much has been paid into your plan by Adobe and you, and how well the investments perform in the market. The value of your plan can go up or down, depending on your investments. The plans are the same for employees from acquired companies such as Allegorithmic, Neolane, Fotolia, and TubeMogul.
For details, please see the pension plan overview (French) | (English) [PDF].
Who’s eligible and how to enrol
Six months from the hire date, all regular employees will be set up automatically in Adobe’s defined contribution pension plan. The plan is mandatory for all employees after working at Adobe for six months.
AXA will send you login details to access your plan via the AXA website. You can always visit the AXA site to reset your login credentials if you forget them.
What you can contribute
The mandatory contributions are shared between you and Adobe. Contributions are based on your pensionable salary, which is defined as base salary plus variable compensation. The contributions paid by you and Adobe are based on the rates below. Contributions are exempt from some tax and social security charges.
| Salary brackets from the CBA | Employee % | Employer (Adobe) % | Total contribution |
|---|---|---|---|
| Tranche 1 | 0% | 4% | 4% |
| Tranche 2 | 2% | 4% | 6% |
Example calculation showing pensionable salary
- Base salary: €48 000 per year = €4 000 per month
- Variable compensation: €1 000 per month
- Pensionable salary = monthly base salary + variable compensation = €5 000 per month
Monthly pension contribution calculation
- Employee contribution
- Tranche 1 = 0% x €3 864 = €0
- Tranche 2 = 2% x €1 136 = €22,72
- Total monthly contribution paid = €22,72
- Employer contribution
- Tranche 1 = 4% x €3 864 = €154,56
- Tranche 2 = 4% x €1 136 = €45,44
- Total monthly contribution paid = €200
Learn more about Tranche 1 and 2 social security limits.
How to change your contributions and investments
You can make additional voluntary contributions to your account either by setting up a one-off or a regular payment. The contributions made to the pension are automatically assigned to the investment default plan with AXA. The default plan is the balanced lifecycle management; however, there are many funds (euro funds and other funds) to select from to suit your needs.
You can also transfer between funds at any time. This is called “arbitrage” and enables you to transfer either your partial or full amounts.
Log in to the AXA website to change your contributions and/or investment options anytime throughout the year.
Pension plan FAQs
What happens when I retire?
What happens when I retire?
When you reach retirement age, you can withdraw the benefit in the form of an annuity or a lump sum (annuities are compulsory on savings invested in PERO compartment 3 - compulsory contributions). An annuity allows an amount of money in your pension plan to be taken out as a regular monthly income for the duration of your post-retirement life. The pension payments will be considered taxable income.
For more information, please contact AXA at service.clientsERE@axa.fr, or call +33 9 70 80 80 57 to discuss your options. The AXA address is: AXA Santé et Collectives, Direction Relations Clientèles, TSA 46 307, 95 901 Cergy Pontoise Cedex 9.
What if I leave Adobe?
What if I leave Adobe?
Your pension insurance will continue to remain with AXA. There will be no further contributions made by Adobe, although you will continue to be able to access your plan and view or change funds at any time after you have left. You can transfer the pension to another provider; however, we suggest you seek your own pension advice before making any transfers.
What if I die before I retire?
What if I die before I retire?
In the event of your death before retirement, AXA will pay the full value of your Adobe pension fund to your chosen beneficiaries. It is very important that you nominate your beneficiaries and review them as your circumstances change. To update beneficiaries, log in to your AXA pension account, and make the changes needed.
Can I pay my annual incentive plan (AIP) bonus or commission into the pension plan, and how does the bonus and commission sacrifice work?
Can I pay my annual incentive plan (AIP) bonus or commission into the pension plan, and how does the bonus and commission sacrifice work?
No, currently your AIP or commission cannot be paid into the pension plan directly via payroll. However, if you want to add your bonus or commission once it’s been paid to you, you can do so by making a one-off contribution directly to your pension account. For each voluntary payment, you can choose the option of tax deduction on entry or exit. Simply log in to the AXA website to make the request.
When can I withdraw my pension benefits?
When can I withdraw my pension benefits?
Your pension can be withdrawn at any time on or after the legal pension notification is received and you are in legal retirement. Additionally, pension monies can be withdrawn if you experience a hardship, such as death of spouse, disability, indebtedness, or the end of unemployment allowance.
Before retirement, you can withdraw amounts from PERO Compartment 1 (voluntary payments) and PERO Compartment 2 (transfer CET days) to purchase your main residence.
What is the difference between an Article 83 and PERO pension plan?
What is the difference between an Article 83 and PERO pension plan?
Article 83 and PERO are both retirement plans to which the Company pays compulsory contributions. Here's how they compare:
| Article 83 | PERO | |
|---|---|---|
| Voluntary payment contributions | Voluntary payment with the deduction from taxable income | Choice for each voluntary payment: deduction from taxable income OR no deduction from taxable income |
| Voluntary payment distributions | At retirement: life annuity subject to social security charges and income tax | Early withdrawal to purchase the primary residence. At retirement: lump sum or life annuity. For voluntary payment without tax deduction at entry, the lump sum paid is not subject to income tax and only the capital gains are subject to the flat-rate tax (“PFU” in French) |
| Transfer of days | At retirement: life annuity subject to social security charges and income tax | Early withdrawal to purchase the primary residence. At retirement: lump sum or life annuity. The lump sum paid is not subject to income tax and only the capital gains are subject to social security charges |
| At retirement | All savings (mandatory contribution, voluntary payment, and transfer of days) are invested in one single compartment. Life annuity is subject to social security charges and income tax (lump sum only if the annuity is less than €1320 per year) | There are 3 compartments in the PERO: 1-Voluntary payment; 2-transfer of days; 3-mandatory contribution. Compartment 1 and 2: lump sum or life annuity. Compartment 3: life annuity subject to social security charges and income tax (lump sum only if the annuity is less than €1320 per year) |
| Transfer of previous retirement plans | Transfer of previous retirement plans into the Article 83 is not allowed from October 2020 | All previous retirement plans (Article 83, PER, PERCO, PERCOL, loi Madelin, PERP) can be transferred into the PERO |