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17th October 2019

PENSION QUALITY MARK DISTINCTION AWARD WINNER ANNOUNCED

The Pension and Lifetime Savings Association (PLSA)'s has announced that My LV= Pension Plan is the winner of its annual Pension Quality Mark (PQM) Distinction Award.

The announcement was made at the PLSA's Annual Conference in Manchester today. The award recognises excellence in high quality Defined Contribution (DC) pension schemes.

My LV= Pension Plan and four other high quality schemes were nominated for the Award from current PQM holders. The winner was chosen by members of the PQM Standards Committee, based on examples of attractive, engaging and clear communications, which help employees and members understand the pension scheme and engage with saving for retirement.

Other schemes shortlisted were:

Euler Hermes Group Personal Pension Plan

• Schneider Electric DC Trust

• The BAE Systems DC Retirement Plan

• Vodafone UK Defined Contribution Pension Plan

"Meeting high standards for member communications is central to our Pension Quality Mark and I'm delighted to see such clear and engaging materials from these schemes."

Peter Strudwick, Pension and Benefits Partner, LV, said: "Finding out we'd been nominated for a Pensions Quality Mark distinction award was brilliant news.

"The PQM is all about demonstrating quality, and the quality of the pension scheme we offer is really important to LV= and the Trustees. We set ourselves a high bar because we know that great governance coupled with simple, engaging communications will lead to better outcomes for our members. The PQM recognises that and, more importantly, allows us to demonstrate the quality of the scheme to our members - helping build confidence in pension savings."

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