Goldman Sachs and Molson Coors are the latest employers to be awarded the Pension Quality Mark (PQM), which recognises employers’ defined contribution (DC) pension schemes.
The PQM standard was awarded to both employers by pensions minister Steve Webb at the National Association of Pension Funds’ (NAPF) annual conference in Manchester on 17 October.
Manchester United, which was awarded the PQM Plus in August 2013 for its trust-based DC pension, was also presented with its award.
The PQM, which was launched in 2009 by the NAPF, recognises DC pension schemes with total contributions of at least 10% with a minimum employer contribution of 6%.
Webb said: “Employers are vital to encouraging workplace saving and have made a major contribution to delivering our landmark reforms.
“I’m very pleased to congratulate the organisations, which have been chosen to received the Pension Quality Mark.”
Joanne Segars, chief executive of the NAPF, added: “The PQM has a key role to play in driving up standards, helping employers communicate their pension scheme to employees and ensuring these workers save in a good scheme.”
