Manchester United and football’s governing body, The Football Association (FA), have become the latest employers to receive the Pension Quality Mark (PQM) Plus for their defined contribution (DC) pension schemes.
Manchester United is the first football club to attain the standard for its £578 million trust-based pension scheme, which has around 6,000 active members.
The FA has been recognised by the award for its trust-based scheme, which has 530 members.
The PQM was set up by the National Association of Pension Funds in 2009 to recognise good-quality DC pension schemes that have high standards of governance, good contribution levels and member communications that are clear, regular and engaging.
Philip Townsend, director of communications at Manchester United, said: “With all the changes in pension arrangements, the trustees felt it was very important that our staff could have confidence in their scheme in order to achieve our key objective of increasing member engagement.
“Securing this independent recognition for the Manchester United Group Pension Scheme is an important step in the way we communicate the benefits of retirement planning to staff.”
Andrew Crean, group chief financial operator at The FA, added: “Having the Pension Quality Mark enables us to offer reassurance to our staff that the pension benefit that we provide is of high value.
“It is a positive message that has been well received especially as pensions are being brought to the forefront of people’s minds due to the auto-enrolment legislation.”
Chris Hitchen, chairman at the PQM, said: “Manchester United and the FA are two of the biggest brands in British and world football. We are delighted to have these big names come on board.
“Both these sporting giants recognise the importance of providing good pensions to their staff and view PQM as the symbol of a quality pension. The club and the sporting body are demonstrating leadership and success both on and off the pitch.
“By achieving the benchmark, Manchester United and the FA can show their current and potential staff the quality of their schemes, and the valuable benefit it provides in helping them save for the future.”