PQM READY schemes
The following schemes have been awarded PQM READY status recognising that they have met the Pension Quality Mark standards for Mastertrusts and Multi-Employer schemes.
For more information visit the PQM READY webpage.
NEST was established as part of the workplace pension reforms and is a pension scheme that all employers can use to meet their duties. It offers clear communications, low charges and easy online tools and services. It's a trust-based scheme and run on a not-for-profit basis.
The People's Pension is an auto-enrolment workplace pension scheme for employers of any size in any sector. Employers receive a full automatic enrolment assessment, administration and communication support at no charge while employees pay a low Annual Management Charge of just 0.5%. It is operated by not-for-profit and award-winning organisation, B&CE and has Mastertrust status.
NOW: Pensions offer a high quality, low cost pension designed specifically with the auto enrolment market in mind. Available to all employers and all employees on the same terms, NOW: Pensions couples a low Annual Management Charge (0.3%) with an easy to understand monthly employee administration charge (£1.50). NOW: Pensions is a subsidiary of Danish pension scheme ATP, one of Europe's largest pension funds.
TPT Retirement Solutions, one of the leading workplace pension funds in the UK, provides innovative defined contribution (DC) pension solutions, with excellent member experiences and market-leading investment.
TPT Retirement Solutions, established in 1946, is an occupational pension scheme with c. £9 billion in assets under management and provides high quality workplace pensions to 2,400 organisations and c. 240,000 members and pensioners.
The National Pension Trust is a highly governed multi-employer occupational pension scheme. The Trust offers access to all flexibilities available under Freedom and Choice and is used for accumulation, decumulation, or as a standalone retirement scheme. Individuals can transfer benefits into the Trust to access the flexibilities at no cost to the Employer or transferring provider.
The Legal & General Master trust is designed to deliver a unique blend of:
- effective, experienced and transparent governance, with a strong focus on independence
- value for money charges delivered through established operational scale
- robust, proven administration platform
- clear and engaging communications
- flexibility - employers can delegate all governance responsibility to the Trustees, or can share in the governance process.
Welplan Pensions offers a Master Trust scheme which takes care of auto enrolment and re-enrolment. With over 25 years of experience working with clients of all sizes, the solution is tailored for each employer, and dedicated account managers provide support throughout. Welplan's solution is flexible, simple and cost-effective.
The Industry-Wide Defined Contribution (IWDC) Section is a multi-employer section of the Railways Pension Scheme, which aims to offer employers a flexible and high-quality defined contribution scheme. It has been recognised for its first-class standards in governance, low charges and its engaging communications strategy.
Created especially for employees in the maritime industry, the Ensign Retirement Plan is a multi-employer defined contribution workplace pension scheme suitable for auto enrolment. It offers members the full range of flexibilities and choice at retirement, clear communications, very low charges and useful online tools and services.
LifeSight is Willis Towers Watson's DC master trust for employers who would benefit from high-quality, market-competitive pension provision without the governance burden. LifeSight offers the best attributes of a trust in an outsourced arrangement, providing access to our market-leading administration and technology capabilities, combined with proven excellence in investments and engaging member communications.
Atlas is a multi-employer DC scheme operated by Capita. Built upon Capita's proven operational scale, Atlas is tailored to companies who want to offer a cost-effective, quality pension arrangement with first-class governance. Members can manage their benefits online via the award-winning 'Orbit' benefits portal, from the accumulation phase through to decumulation.
Friends Life Mastertrust
The Friends Life* Master Trust is a modern, flexible pension scheme provided through our innovative corporate platform. The scheme is governed by a team of independent professional trustees who have extensive experience of managing pension schemes, and who work closely with appointed legal, investment and audit specialists.
It's designed to help employers offer their employees an outstanding retirement vehicle which forms part of a comprehensive workplace savings package, including access to:
- a default range of investment options with the ability to bespoke
- a range of savings products
- a full suite of member literature
- financial education materials
- informative and interactive online tools and services
The Friends Life* Master Trust aims to give employers the peace of mind that independent governance brings, with the assurance of having a strong, specialist team behind them. *Friends Life is part of the Aviva business.
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
The IoD welcomes the PQM initiative. Employers and employees need to work together on tackling the retirement income challenges we all face, and on improving communication of scheme benefits. The focus of PQM in both these areas marks an important step forward in preserving and enhancing good quality workplace pension provision.
Malcolm Small - Senior Adviser, Pensions Policy, Institute of Directors