Age UK, the charity that aims to improve later life, has achieved the Pension Quality Mark (PQM) for its staff pension.
Age UK is one of the 157 organisations to be awarded the Mark that now covers 300,000 scheme members, including 1,050 of Age UK’s staff. It joins other charities whose staff pensions have been recognised by a PQM standard. These include Royal British Legion, Sightsavers, the Royal National Lifeboat Institution, and BMS World Mission.
PQM is the standard given to those employers who provide good-quality DC pensions to their members of staff. It distinguishes pension schemes that are well run by employers, whose contribution rates are good, and which are clearly communicated to members of staff.
Alexandra Kitching, PQM Manager, said:
“Age UK achieving the PQM is particularly symbolic as this organisation works to improve the lives of older people. By offering its staff a good pension, the charity is emphasising the importance of saving for later life. I am very pleased that Age UK’s staff pension scheme has qualified for the PQM.”
Jane Vass, Head of Public Policy from Age UK, said:
“Age UK is delighted to have received the Pension Quality Mark which plays a useful contribution in recognising good practice in employer pension schemes. It is more important than ever for people to plan for their future, and offering a good pension is a vital step in helping our staff prepare for what’s ahead.”
More on PQM here.