What is PQM?
The Pension Quality Mark ("PQM") is a new award that recognises high quality defined contribution (DC) pension schemes. The PQM is designed to raise confidence in workplace pensions, and help employers demonstrate the value of their scheme to current and future employees.
The award is available for all types of DC pension schemes, whether occupational, GPP, or stakeholder, which meet the PQM standards. More details of the PQM standards are here.
"By providing a benchmark the PQM can help people judge the quality of pension scheme offered and companies will be able to easily promote that aspect of their employment package."
Doug Taylor, Which?
Who runs PQM?
PQM has been set up and is wholly owned by The National Association of Pension Funds (NAPF), a not-for-profit organisation.
An independent advisory panel of consumer, employer and industry experts advises the PQM Board on the development of the scheme and the Standards. It also acts as independent appeals panel for complex applications.
Current members of the PQM Advisory Panel are:
Adrian Boulding - Legal & General
Kay Carberry - TUC
Lynn Collins - Marks and Spencer
Ruth Goldman - Linklaters
Joy Moore - RWE nPower
Doug Taylor - Which?
For further information about PQM Ltd or the Advisory Board please contact us.
Information for employees
How do you know if your employer is offering access to a good quality pension scheme? The Pension Quality Mark could be the answer!
To be awarded the PQM a pension scheme must meet standards on employer contributions, how well the scheme is run, and the quality of its communications.
Your questions answered:
Does my scheme have the Mark?
List of all PQM awards
All schemes that have gained a PQM award are listed below. Each award relates to one employer and a specified scheme:
PQM awards:
AECOM Group Personal Pension
The AQA Pension Scheme - Defined Contribution Section
ARM Group Personal Pension Plan
Atkins Pension Plan - DC 2001 Section & DC 2007 Section
The Bupa Retirement Savings Plan
The Comet Stakeholder Pension Plan
Communisis Pension Plan
Courtaulds (UK) Ltd Group Personal Pension
Daily Mail and General Trust Plc - AN PensionSaver and DMGI PensionSaver
Group Personal Pension Flex From Standard Life
HSBC Merchant Services LLP
IBM Pension Scheme (Money Purchase Section)
Kellogg Brown & Root (UK) Ltd Pension Plan
Reckitt Benckiser Pension Fund - Defined Contribution Section
RSA Stakeholder Plan
Syngenta UK Pension Fund
Volkswagen Group Pension Scheme Trustee Ltd
PQM PLUS awards:
The Accenture Retirement Savings Plan
The BAA Defined Contributions Pension Plan
BG Group Retirement Benefits Plan
Experian Money Purchase Pension Plan
Gallaher 'DC' Pension Scheme
HSBC Bank (UK) Pension Scheme
International Power UK Defined Contribution Pension Plan
John Wood Group PLC Group Personal Pension Plan
Kellogg's (Great Britain) Pension Fund
Marks and Spencer Retirement Plan
My LV= Pension Plan
NATS Defined Contribution Pension Scheme
Pearson Group Pension Plan - MP Section
Plastic Omnium Retirement Benefit Scheme
RNLI Group Personal Pension Plan
The Royal College of Physicians Defined Contribution Pension Scheme
The Royal Mint Group Personal Pension Scheme
Schroders Retirement Benefits Scheme (DC Section)
Siemens Benefits Scheme - Investor Plan
Ufi Stakeholder Pension Plan
How can I get my employer to apply for PQM?
If your scheme does not have a PQM award it may just be that they aren't aware of PQM yet. This leaflet is available to download, or to send to your HR office or scheme manager.
If you think that a PQM scheme is not meeting the Standards or an employer is using the PQM logo when they do not have an award then please contact us.
For answers to more 'frequently asked questions' you can go here.
Information for employers
How to make the most of your award
If your pension scheme has a PQM award then don't keep it a secret! Make sure you tell your staff about their award-winning pension.
- Download the Logo Guidelines so you can use the PQM logo in your literature.
- Purchase plaques, certificates and other great promotional materials from the Shop
