Finmeccanica, Taylor Wimpey and Total E&P UK awarded PQM Plus

Finmeccanica, Taylor Wimpey and Total E&P UK have been awarded the Pension Quality Mark (PQM) Plus.

The PQM, launched by the National Association of Pension Funds (NAPF) in September 2009, has been awarded to 125 pension schemes. It recognises defined contribution (DC) pension schemes with contributions of at least 15%, with a minimum employer contribution of 10%.

Steve Webb, pensions minister, said: “It is really good to see schemes like these setting the example and offering a good quality standard of pension for their employees, especially in these quite difficult times.

“I hope that come automatic enrolment we will see even more organisations awarded the Pension Quality Mark, as we get millions more saving into workplace pensions.”

Joanne Segars, chief executive of the NAPF, added: “We are living at a time of deep economic uncertainty and many businesses are under great financial pressure. But these schemes receiving the PQM show that employers understand the importance of providing good quality pensions to their staff.

“We encourage more employers to offer pensions like these, with this level of contribution, to help people build a decent income for retirement.”

Other employers that have been awarded the PQM include: Airwave Solutions, Liberty IT and L’Oreal.

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