Ikea and Lufthansa have been awarded the Pension Quality Mark (PQM) for their defined contribution (DC) pension schemes.
The PQM, which was launched in 2009 by the National Association of Pension Funds, is awarded to schemes that:
- Have total contributions of at least 10%, with a minimum employer contribution of 6%.
- Have governance arrangements in place to ensure the scheme is operating in members’ best interests.
- Has clear, engaging and easy-to-understand member communications.
Pernille Hagild, HR manager at Ikea, said: “We are delighted to have received this award for the IKEA Retirement Income Scheme (IRIS).
“IKEA is fully committed to supporting all employees with their pension saving choices, and help build savings for retirement. The PQM is a great endorsement of our commitment.”
Tobi Junker, director compensation and benefits international at Lufthansa, added: “Employee benefits and occupational pension plans always were and will be in future, a very important element of the total compensation package at Lufthansa.
“We are proud of having achieved the gold standard for our DC pension plan in the UK.
“It seals what we have been striving for, with the PQM as final proof of a sustainably strong product for our employees.”
