The RQM was launched in September, through the Pension Quality Mark, as a standard that recognises quality at-retirement products. The mark is designed to raise confidence in the at-retirement market by helping consumers quickly identify quality products and help trustees and employers signpost those products to savers.
Ken Anderson, Head of DC Solutions at Xafinity commented: “We are delighted to be among the first pension schemes to be awarded the Retirement Quality Mark. This award demonstrates that the National Pension Trust continues to lead the market when it comes to innovation, helping members to make the most of the new pension freedoms.”
Adrian Boulding, Chair of the Pensions Quality Mark Board, said: “In the age of pension freedoms, today’s awards mark the start of a new chapter for the pensions industry. Guiding savers to the right at-retirement product is important in driving up the standards of the products in the industry.”
When selecting a Mastertrust there are now three key criteria that employers and their advisors should be mindful of.
First, is the Mastertrust on the Pension Regulator’s list of approved mastertrusts?
Second, does the Mastertrust hold the PQM Ready accreditation demonstrating high quality governance and member support when saving for the future?
And third, does the Scheme hold the Retirement Quality Mark demonstrating that members will be supported to make the most of their pension savings.
Launched in 2009, the National Pension Trust is a highly governed Mastertrust that meets all of the above objective criteria.
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