The Pension Quality Mark (PQM) was established to set aspirational standards for the industry and to lead the way in improving outcomes for savers. Since the PQM was launched in 2009, it has led to improvements across governance, communications and contributions, and has become the recognised quality mark for the top quality defined contribution pension schemes. Assessing a wide range of schemes for accreditation and renewal gives us a unique insight into how leading schemes are innovating and how best practise is evolving.
To recognise the schemes that are leading the industry standards, we have launched the PQM Distinction award. PQM Distinction recognises the best of the best. We will award the PQM Distinction to schemes that go above and beyond the PQM standards. The PQM team will use the awardees as case studies for other schemes to learn and improve from.
Schemes do not need to apply for PQM Distinction; our assessors will look for especially good practice in the course of assessing for PQM accreditation, and nominate those schemes for a shortlist. A small panel comprised of PLSA team members and industry experts will consider the shortlisted schemes, and decide a winner. Awards will usually be made at the PLSA conference in October.
In 2017 and 2018 the award focused on good communications.
2018 Winner: Tesco Retirement Savings Plan
Also shortlisted were: CCEP Personal Pension Plan; Lend lease UK Pension Scheme; MSD Pension Scheme; The Nationwide Group Personal Pension Plan; Total UK Pension Plan, Upstream (DC) Section.
Past winners: 2017 - Heineken Flexible Retirement Plan
If you would like further information on PQM Distinction please contact us
24/01/2019 - PQM Standards 2019 read more
18/10/2018 - PQM Distinction award 2018 read more
T: 020 7601 1736
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?