LifeSight demonstrates governance quality through PQM accreditation
Towers Watson’s new master trust, LifeSight, is awarded PQM READY accreditation – underlining its leadership as only one of eleven schemes to gain the prestigious mark
17th September 2015 – Towers Watson announced today that its master trust, LifeSight, has gained the Pension Quality Mark (PQM) READY standard in recognition of its outstanding communications and good governance.
LifeSight is one of the elite few master trust schemes in the UK to gain the accreditation. By achieving master trust assurance, LifeSight will be identified by employers as a master trust that promotes best practice around charges and scheme governance. It has proven that member communications are clear, regular and engaging and that independent trustees review how well the scheme is run and whether it is meeting employees’ needs.
Fiona Matthews, Managing Director LifeSight, Towers Watson’s master trust, stated: “We are delighted to be one of the elite schemes to be awarded this important mark of quality assurance. PQM READY is an independent standard that recognises good quality defined contribution pensions. It reflects the confidence that independent assessors of quality have in our scheme and demonstrates our strong position in the market. At LifeSight, we put members at the heart of everything we do. In particular, we ensure we regularly communicate with members and actively engage them in managing their savings, so they can enjoy a secure and happy retirement.”
Julian Mund, Executive Director, Pensions Quality Mark stated: “We congratulate LifeSight in gaining this independent accreditation which endorses its commitment to maintaining the highest industry standards and best practices. PQM READY is a key mark of quality and assurance which helps employers and individual savers gain confidence in schemes that have the accreditation. We hope that Towers Watson’s achievement will encourage other master trusts to follow suit.”
LifeSight is Towers Watson’s defined contribution multi-employer pension trust. Employers benefit from high-quality, lower risk, market-competitive pension provision without the governance burden. It delivers a leading-edge technology platform with administration services and combines them with proven excellence in investments and engaging communications.