UK
London, 26 August 2010

Mercer becomes a Friend of the Pension Quality Mark (PQM). The firm commends the NAPF campaign’s independent verification of defined contribution (DC) pension arrangements aimed at enhancing employee appreciation.

The PQM standard was launched by the NAPF in September last year to recognise high quality DC schemes. The recently launched Friends of the Pension Quality Mark initiative is designed to recognise all those working in the pensions industry to make the Pension Quality Mark a success.

Tony Pugh, UK Head of DC at Mercer commented: “DC pension arrangements are an important part of the benefits package but are often not fully appreciated by employees. An initiative like the PQM, that raises awareness of pensions and helps to inspire confidence, has to be a positive measure.

“Research has indicated* that 62% of employees would view their employer in a better light if their company pension arrangement had an independent quality mark. We are therefore confident that this will make a valuable contribution to DC’s ‘coming of age’.”

Joanne Segars, NAPF Chief Executive, said: “We’re delighted that Mercer will be helping to raise awareness of the Pension Quality Mark, which is proving popular with HR directors, staff and the pensions industry.

“There’s too little recognition of the value and importance of a good DC pension. PQM is a symbol of clarity and quality that benefits both employers and employees.”

Notes for editors
*Source: NAPF research http://www.pensionqualitymark.org.uk/faqs.php