New PQM brand for multi-employer pensions

The Pension Quality Mark (PQM) is to launch a brand for multi-employer pension schemes in January 2013.

The PQM Ready brand is aimed at enabling employers to identify multi-employer schemes that have good governance, good member communications and low charges.

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Employers that use a PQM Ready multi-employer scheme will be able to go through a fast-track process to achieve the PQM.

The PQM recognises defined contribution (DC) pension schemes with total contributions of at least 10% and with a minimum employer contribution of 6%. It also distinguishes pension schemes that are clearly communicated to employees.