New 'Pension Quality Mark' unveiled

21/09/2009

A major new scheme designed to promote confidence in workplace pension savings has been launched.

The Pension Quality Mark, developed by the National Association of Pension Funds (NAPF), is to highlight the "value" of selected schemes.
In turn, this could boost join-in rates for retirement savings plans and make the sector easier to understand for the average worker.

Making retirement savings can help safeguard elderly peoples' finances by providing a supplement to the state pension.

Joanne Segars, NAPF chief executive, said: "The Pension Quality Mark is an exciting new initiative which will benefit both employers and employees. It shows these employers' commitment to encouraging their staff to save for retirement, which is becoming ever more vital."

She added: "I urge more employers to apply so that they can tell the story of their good quality schemes with confidence."

Seven companies, including Marks & Spencer and Kellogg's, have received the Pension Quality Mark.

Tags; Budgeting Advice, Retirement Money Problems,

• Share
• 
• 
• Store
• 
• Follow
•