"Having closed our Defined Benefit scheme to future accrual in December 2008, Michelin was keen to convince employees that the alternative DC Scheme that we offer is a good quality alternative. We put a lot of work in to the design of the DC Scheme, and the services to members to assist them in their investment and life choices.
When the Pensions Quality Mark was launched, it was an obvious decision for us to apply. We were delighted when our DC scheme was accepted, as it provides external endorsement of the quality that we offer our employees. The work we are doing in promoting the DC scheme within Michelin is having positive results, with 90% of our employees choosing to join."
Colin Porteous, Head of Pensions Compensation & Benefits, Michelin

