PQM READY - information for employers
Why choose a PQM READY scheme?
- It automatically meets two out of three PQM standards: governance and communications. So, if you are using a PQM Ready master trust, you only need to meet the criteria for contributions.
- Assurance that you are selecting a good quality scheme for your employees.
- Employers who use their scheme will be able to get PQM through a fast-track process that just looks at the standards not covered by PQM Ready.
What standards does an employer using PQM READY scheme need to meet in order to attain PQM or PQM PLUS?
For PQM, the overall contribution rate must be at least 10% with a minimum employer contribution of 6%. For PQM Plus the overall contribution rate must be at least 15% with a minimum of 10% employer contribution.
Different rules apply to different contribution structures - for example, with matching contributions only one of the levels needs to meet the standards, regardless of which level you are auto-enrolling your employees at.
The standards document explaining all options is available to download. The PQM team will be happy to take you through the standards and apply them to your scheme.
I want to apply for PQM or PQM PLUS. What do I do next?
The process could not be easier. Simply register via PQM website by clicking 'Apply Now' button and start completing the application form. Don't forget to select which PQM Ready scheme you are using from the drop down list on the first page of the application form.
If you need any assistance with the application - or prior to the application - please contact the PQM team.
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
We are delighted to support any initiative that recognises the value and importance of employee communications. The Pension Quality Mark does just that and we are excited to be involved. We look forward to having more of our clients having their communication programmes recognised by the Pension Quality Mark and to promote the required standard amongst our other clients going forward.
Nigel Ferrier - Executive Chairman, Ferrier Pearce