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.
It is recognised by the HR and pensions industries, and the Government.
Brought to you by the Pensions and Lifetime Savings Association, the PQM is for all DC schemes, whether trust or contract based.
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.
06/07/2017 - Consultation on PQM Standards read more
28/02/2017 - Sir Steve Webb and Gregg McClymont join the Pension Quality Mark Board read more
T: 020 7601 1770
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?