Pension Quality Mark (PQM), a subsidiary of the Pensions and Lifetime Savings Association, has designed an award that aims to help a new wave of self-invested personal pension (SIPP) consumers choose products without the help of an adviser.
The award, to be launched sometime this summer, has been created to help guide a new generation of customers taking out income drawdown plans following pension freedom without advice. It will be available for all defined contribution schemes, whether trust or contract-based. The PQM is "the highest standard of excellence" for pension offerings, according to the organisation's website, and is recognised by the human resources and pensions industry, as well as the government. Pension Quality Mark chairman Adrian Boulding, who spoke at a SIPPs and Retirement Options Conference on 17 May,...
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