Pension 'quality mark' unveiled

Link to the article: Channel 4 News

By Channel 4 News

Pension funds launch a scheme aimed at rebuilding workplace confidence in pensions and making them understandable.

The pension quality mark is being awarded to schemes which meet a range of criteria.

The annual contribution must equal 10 per cent or more of an employee's salary, with at least six per cent of that coming from the employer.

Management charges should not exceed 1% of the total value of the fund.

A number of big companies, including Marks & Spencer, Kellogg's and the computer giant IBM, were awarded the quality mark today.

Samira Ahmed spoke to Nigel Peaple, director of policy at the National Association of Pension Funds, which is launching the scheme.