28th November 2017
AON MASTERTRUST AWARDED PQM READY
The Pension Quality Mark (PQM) is pleased to announce that the Aon MasterTrust has received PQM Ready accreditation.
PQM Ready helps employers to identify high quality pension providers when choosing a solution for their employees. This is achieved by assessing governance and communications, and goes further than the minimums set out in regulation and the assurance framework:
• Trustees must be fully independent and always act in the members' interests and independently of any commercial sponsor or founder;
• The scheme also needs to have clear and engaging communications to members;
• All employers using the scheme must be able to access a default investment option with charges no higher than 0.75%.
The Aon MasterTrust is a professionally-managed, multi-employer trust-based pension scheme that employers may utilise to potentially improve their scheme governance and performance and to meet their monitoring and reporting requirements.
The Aon MasterTrust draws on a combination of Aon's expertise in defined contribution (DC) within the UK and globally, market-leading investment expertise and credentials in building strong governance frameworks. The MasterTrust offers a service delivered by experts and its guidance helps position schemes to deliver better outcomes for their members - now and in the future.
Matthew Doyle, Managing Director, PQM, said:
"The Aon MasterTrust is now a member of the select high quality pension providers that have achieved the PQM Ready accreditation. This demonstrates their commitment to providing real positive outcomes for consumers and places them at the forefront of the industry.
"The Aon MasterTrust stood out to the PQM Ready Assessors due to their 'Do it For Me' approach providing an easy investment selection option for savers. An area that came through strongly in the assessment process was the commitment from trustees to ensure that the scheme was well run and meeting the needs of the members."
Tony Pugh, head of DC Solutions EMEA at Aon, said:
"Achieving the PQM Ready accreditation formed part of our business plan. We are keen to distinguish the Aon MasterTrust as a quality provider of DC pensions, helping employers to get the best outcome for their employees and helping employees to engage with their DC benefits to and through their retirement journey."