The PQM Standards have been extensively revised and updated for 2019, reflecting changes in regulation and practice since PQM was originally launched 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.
In 2017 we invited responses from PQM holders and other stakeholders, and had in-depth discussions with pensions professionals, PQM assessors, and the PQM Board. We believe we have developed a set of Standards that are fit for 2019 and beyond.
The core principles of the new 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.
For further information on applying for PQM or renewing please contact us
T: 020 7601 1736
09/03/2020 - Redington on gaining the Pension Quality Mark read more
06/02/2020 - PQM Survey read more
We welcome the launch of the Pension Quality Mark especially as it recognises the need for employers to give clear information and support to their pension scheme members as they approach retirement.
Andrew Harrop - Head of Public Policy at Age Concern and Help the Aged