Pensions provider Legal and General has been awarded a Pension Quality Mark (PQM) for the defined contribution (DC) pension scheme it offers its own staff.
The PQM, awarded by the National Association of Pension Funds (NAPF), recognises DC schemes with total contributions of at least 10% of an employee’s salary and a minimum employer contribution of 6% including matching contributions.
Legal and General has also become a friend of PQM, which means it will actively engage in promoting the mark and good standards of DC among pension schemes and sponsoring employers.
Rosemary Lemon, group head of reward and executive remuneration for Legal and General, said: “The provision of good-quality pension schemes for employers is a prime focus, but it is equally important that we uphold the highest standards for our own staff as well.”
Read also L’Oreal awarded the Pension Quality Mark
Read more articles on DC pension schemes