The Institute of Directors (IOD) has awarded a Pensions Quality Mark Plus by the National Association of Pension Funds (NAPF) for its defined contribution (DC) pension scheme.
The IOD’s director-general, Miles Templeman, said: “We are delighted to have been awarded the Pensions Quality Mark Plus for our staff pension scheme. It is vitally important to the IOD to be able to attract, and retain, the highest possible quality of staff at all levels. The pension scheme we offer is a vital element in that.
“IOD staff recognise the value membership of our pension scheme delivers for their futures. It is great to have external recognition of this from so prominent a body as the National Association of Pension Funds.”
Joanne Segars, Chief Executive of the NAPF, added:“Employers are increasingly seeing the importance of offering a high-quality pension scheme to their employees. Providing a good workplace pension can have significant bottom-line benefits, as it helps firms to attract and retain the best staff.”
PQM Plus is the superior standard, which recognises DC schemes with contributions are of at least 15%, with a minimum employer contribution of 10%.
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