Welcome to the Pension Quality Mark
The Pension Quality Mark (PQM) is the highest standard of excellence available to UK employers to demonstrate the benefits of their pension offering. Brought to you by the Pensions and Lifetime Savings Association, the PQM is for all DC schemes, whether trust or contract based. It is recognised by the HR and pensions industries, and the Government.
Why is it a good idea?
For employers, PQM:
- Demonstrates that your pension scheme has been independently ranked as top quality
- Provides a competitive advantage in staff retention and recruitment
- Supports your employees in saving for a comfortable retirement
- Positions your company at the forefront of employer responsibility
The Pension Quality Mark (PQM) is only given to top quality pension schemes. If yours has it - you know that it's passed independent checks in three areas.
- Contributions At least 10% of earnings goes into your pension pot - or 15% for PQM PLUS.
- Governance This means how your scheme is run. Are the people who run it properly qualified? Do they meet regularly? Can members have a say? PQM checks all these things.
- Communication Does your scheme give you regular information, in a way that is easy to understand? PQM makes sure of this.
28/11/2017 - Aon MasterTrust awarded PQM Ready read more
07/11/2017 - Aviva Master Trust awarded PQM Ready read more
T: 020 7601 1770
The IoD welcomes the PQM initiative. Employers and employees need to work together on tackling the retirement income challenges we all face, and on improving communication of scheme benefits. The focus of PQM in both these areas marks an important step forward in preserving and enhancing good quality workplace pension provision.
Malcolm Small - Senior Adviser, Pensions Policy, Institute of Directors