The PQM Standards were relaunched in 2019. They had been extensively revised and updated reflecting changes in regulation and practice since the original PQM in 2009.
PQM is a PLSA initiative, which contributes to our mission to help everyone achieve a better income in retirement. PQM recognises high quality pension schemes which meet minimum contribution levels (12% of pensionable pay), good governance, good member experience and which encourage employees to save for their future.
The core principles of the PQM Standards are that a pension scheme should have: a commitment from the sponsoring employer to enrol all employees at minimum contribution levels, an effective board, a good quality default investment strategy, an understanding of its members with an inclusive engagement strategy, and support for members at retirement. The Standards also set out what we consider to be good practice, and the type of evidence that a scheme can provide to demonstrate that it meets the Standards.
Existing PQM holders have until the end of 2023 to comply with the Standards. Renewing and new applicants please contact us to discuss in more detail and we will be happy to assist.
T: 020 7601 1736
07/10/2020 - The Children's Society - the value of PQM read more
12/06/2020 - Mike Nixon on why holding the Pension Quality Mark matters at Leonardo read more
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