Ladbrokes has been awarded a Pension Quality Mark (PQM) for its stakeholder defined contribution (DC) pension scheme.
The benchmark, awarded by the National Association of Pension Funds (NAPF), is given to employers that provide good quality defined contribution (DC) pension schemes to their staff. It recognises DC schemes that have total contributions of at least 10%, with a minimum employer contribution of 6%.
The PQM has been awarded to 175 pension schemes covering more than 300,000 active scheme members since being launched by the NAPF in September 2009.
Sara Davies, reward and resourcing director at Ladbrokes, said: “Ladbrokes is proud to receive the Pensions Quality Mark for our pension scheme, following the changes we made as part of our approach to pensions auto-enrolment.
“This independent measure of quality will provide us with valuable assistance in supporting employees’ retirement planning in both the accumulation and decumulation phases.”
Ladbrokes reviewed its pension provision in the run-up to an auto-enrolment staging date of March 2013.
Alexandra Kitching, PQM manager at the NAPF, added: “PQM will help show employees that the Ladbrokes pension scheme is a well-governed pension scheme with low charges and good member communications.
“We commend Ladbrokes for achieving the mark of excellence that recognises their staff pension and welcome other gaming companies on board.”