With ‘pensions for all’ a likelihood once the National Pensions Savings Scheme (‘Personal Accounts’) launches in 2012, how can you make your own pension offering a differentiator as a part of your recruitment & retention strategy?

The solution might be to apply for the recently launched ‘Pension Quality Mark’ awarded by the National Association of Pension Funds (NAPF) for defined contribution plans which meet the following criteria:

• Total contributions of 10% of which at least 6% is employer funded
• A charging structure of no more than 1%pa with evidence that the scheme is run in the best interests of its members
• A communication strategy which is clear, engaging and easy to understand

Whilst the measures themselves are attainable for many, the awards will only be received by those companies who seize the early initiative and secure the award whilst it will have maximum impact.

For further details of the assessment process and how EBS can help you with the process either read on or please get in touch.

The award is now available for occupational money purchase, group personal pension and group stakeholder arrangements. Successful schemes will be able to use the Pension Quality Mark logo on scheme literature and in recruitment activities. There is an additional ‘Quality Mark Plus’ available for schemes meeting the same criteria but with a total contribution available of 15% of salary, of which at least 10% is employer funded. The assessment fee is £250 with an annual licence fee of £250 which makes the value of the award far greater than the cost.

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