We are delighted to announce that the LifeSight Ireland Master Trust has been awarded the PQSR (Pension Quality Standard Ready) award by the IAPF, an independent body representing pension savers in Ireland. The PQSR award confirms that a Master Trust satisfies the governance and communication requirements of the Pension Quality Standard, which is awarded by the IAPF to DC arrangements that meet a certain benchmark quality standard of governance, communications and contributions.
Above is a photo of Gary Morrissey of LifeSight and Ciaran Long (independent chair of the LifeSight Trustee company) accepting the PQSR certificate from Jerry Moriarty from IAPF.
This award essentially means that LifeSight Master Trust clients who are also IAPF members can apply for either the PQS, PQS with Merit or PQS with Merit Plus awards, and only need to satisfy the contribution standard to receive this accreditation. The PQS is for employers who want to highlight the value of their retirement benefits to their employees. The PQS helps them to do this by showing that the pension benefit they offer has received a highly recognised award and is an integral part of the benefits package they offer to employees.
What award could your retirement structure receive?
- PQS Award – Contribution rates of at least 12% (of which the employer contributes at least 7%)
- PQS with Merit Award – Contribution rates of at least 15% (of which the employer contributes at least 10%)
- PQS With Merit Plus Award – Contribution rate of at least 20% (of which the employer contributes at least 15%)
More information is available here in the PQS Booklet. As noted above, LifeSight satisfies the applicable governance and communication requirements of the Award.
About LifeSight
LifeSight is WTW’s master trust and defined contribution single trust solution in Ireland. Master trust is a defined contribution multi-employer pension trust for employers looking to offer their employees a high-quality, lower-risk, market-competitive pension, without the governance burden.
Running a defined contribution pension scheme can be complex and costly for a lot of employers. LifeSight’s master trust looks after the day-to-day running of the pension scheme, whilst a professional trustee board looks after the interests of savers.
LifeSight offers access to a leading digitalised platform, including its innovative ageOmeter tool. Combined with our proven expertise in investments and communications, LifeSight is the complete package. LifeSight is also a well-established solution in the UK.
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organisations sharpen their strategy, enhance organisational resilience, motivate their workforce and maximise performance.
Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.
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