Sir Steve Webb and Gregg McClymont join the Pension Quality Mark Board
The Pension Quality Mark (PQM) has today (Tuesday) announced the appointment of ex Minister of State for Pensions, Sir Steve Webb and ex Shadow Minister of State for Pensions, Gregg McClymont, as Non-Executive Directors to the PQM Board.
Karen McArthur was also appointed to the PQM Board in December 2016. Sir Steve and Gregg bring with them a strong understanding of the at-retirement market, adding to Karen’s expertise in consumer focussed business.
In 2017 PQM has a new initiative to recognise pension schemes that are exceeding the PQM Standards.
PQM Award Presented to the Canal and River Trust
Ian Jarvis of the Canal and River Trust was presented with a Pension Quality Mark trophy at the PLSA Trustee conference.
Assessor panel recruitment
We are adding to our PQM and RQM Assessor Panel, which appraises applications for our quality marks.
The PQM Board is recruiting three new Non-Executive Directors.
Consultation finds widespread support for development of Retirement Quality Mark
The Pension Quality Mark (PQM) Board has today (Tuesday) published an overview of responses to its consultation on developing a Retirement Quality Mark (RQM). The responses show widespread support for the role a RQM could play in helping savers secure a good retirement income and trustees to support pension scheme members.
For savers, there was agreement that a quality mark would:
• Build on current guidance and act as an enabling tool to help consumers make informed decisions.
• Signal products that had met an independent quality standard in relation to governance and communications. 85% of consumers thought it was important for a good retirement product to be independently accredited by a third party.
• Help build confidence in pensions and retirement saving.
Pension Quality Mark consults on developing a Retirement Quality Mark
Today (Monday) the Pension Quality Mark (PQM) asked its holders, friends and stakeholders to respond to its consultation paper on developing a Retirement Quality Mark. The consultation document outlines how the Board of PQM wishes to consider how a quality mark for retirement products could be developed to meet the needs of savers and trustees...
28/02/2017 - Sir Steve Webb and Gregg McClymont join the Pension Quality Mark Board read more
01/01/2017 - PQM Distinction read more
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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