Pension Quality Mark
The Pension Quality Mark (PQM) is a quality standard recognised by the pensions industry, launched in September
2009 by the National Association of Pension Funds (NAPF), that recognises high quality
defined contribution pension schemes. With compulsory employer contributions and
auto-enrolment of employees into a workplace pension scheme due to come into force
from 2012 the PQM helps employers to highlight that their scheme goes over and above
what is simply required by legislation.
Johnson Fleming has recently become a formal ‘Friend of the Pension Quality Mark’.
As a market-leading group pensions service provider we are committed to supporting
and actively promoting the PQM, and have a number of clients working through the
award process at the moment.
To date over 90 schemes have qualified for either the PQM or PQM Plus. Employers
have applied for the PQM for a number of reasons, including:
- supporting recruitment and retention
- ensuring employees have confidence in their pension scheme
- encouraging employees to save for a comfortable retirement
- highlighting the quality of their scheme against competitors
In order to attain the PQM, a pension scheme needs to meet certain standards in
three areas: contributions; governance; and communications.
If you would like to know more about the PQM, the standards you need to meet or
the process for applying, please do not hesitate to contact us on: 0870 242 8600.