PQM announces shortlist for communications Distinction award
PQM has today announced the shortlist for its new Distinction Award. The award seeks to recognising the best of the best in pension communications; rewarding those who have gone above and beyond in order to encourage member engagement.
PQM Launch Good Communications Guide
To help employers, pension schemes and anyone else interested in pension communications meet this growing need, the Pension Quality Mark (PQM) and Landscape have launched a Good Communications Guide.
The first three chapters of the guide were launched at an event in Westminster on Friday, 29 September where Baroness Ros Altmann – one of the guide’s contributors – gave a key note speech calling on the pensions industry to better encourage, engage and enthuse people about pensions. Gregg McClymont – Chair of PQM and contributor to the guide – also provided comments focusing on the challenges of communicating pensions and the valuable work PQM and Landscape have put into producing this guide.
The free guide is available online and is optimised for use on desktops, tablets and mobiles. It brings together ideas and approaches to help improve pension communications for anyone wanting to improve pension communication and engagement. Further chapters will be launched at the Pension and Lifetime Savings Association’s Annual Conference in Manchester between 18 and 20 October.
Gregg McClymont appointed as Pension Quality Mark Chair
The Pensions Quality Mark (PQM) has today announced that Gregg McClymont has been appointed as Chair. Gregg will replace the current chair – Adrian Boulding – on 18 September 2017.
Consultation on PQM Standards
The Pension Quality Mark Ltd (PQM) has today announced a wide ranging consultation on the future standards for defined contribution (DC) pension provision in the U.K. This will cover the Pension Quality Mark (PQM) for individual employer schemes and the Pension Quality Mark Ready (PQM Ready) for multi-employer schemes.
Interested parties are invited to respond before the consultation closes on 4 August 2017. One key area the PQM is seeking feedback on is whether scheme excellence should be judged on the employer offering or the scheme member uptake.
Since being launched, PQM (2009) and PQM Ready (2013) have become the highest accreditation available for the provision of individual and multi-employer DC pensions in the U.K. However, since both were introduced there have been considerable developments in the DC market. As a result regulation and best practise now meet many of the PQM standards.
To continue this success the PQM board is proposing to review and enhance the standards required to achieve the PQM and PQM Ready accreditations.
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.
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.
11/10/2017 - PQM announces shortlist for communications Distinction award read more
02/10/2017 - PQM Launch Good Communications Guide read more
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This independent measure of quality will provide us with valuable assistance in supporting colleagues' retirement planning in both the accumulation and decumulation phases.
Sara Davies, Ladbrokes Reward and Resourcing Director