Professional service firm Thomas Miller and heating and plumbing organisation Wolseley are among the latest employers to be awarded the Pension Quality Mark (PQM), which recognises employers’ defined contribution (DC) pension schemes.
Other organisations to be recognised by the National Association of Pension Funds (NAPF) include chemical organisation BASF, drinks manufacturer Maxxium (pictured below right) and pharmaceutical company Norgine.
BASF, Thomas Miller, Maxxium and Wolseley were all awarded the PQM Plus, while Norgine achieved the PQM.
Neil McCawley, head of reward, benefits and policy at Wolseley, said: ”“I was delighted to hear that we had been awarded the Pension Quality Mark Plus, in recognition of the quality of our defined contribution pension plan.
”Helping our people save for their retirement is just one of the benefits that we provide to our employees, which we believe helps us differentiate ourselves from our competitors.”
The PQM, which was launched by the National Association of Pension Funds (NAPF) in 2009, recognises employers that offer pension schemes with good-quality governance and low charges, clear and ongoing communication with pension scheme members, and good contribution rates.
More than 200 employers have received the PQM, including: Capital One, Centrica, L’Oreal, Nationwide Building Society, Roche and Vodafone.