About the PQS

As Defined Contribution (DC) pension provision becomes increasingly widespread there is a growing need for individuals to develop a better understanding of DC pensions, especially of the DC pension offered by their employer.  With this in mind, IAPF developed a benchmarking process to highlight those schemes that offer employees an exceptional pension scheme.

What is the PQS?
The PQS is an award for a DC pension scheme that meets a certain benchmark quality standard.  There are three levels awarded: PQS,  PQS With Merit and PQS With Merit Plus.

Who is the PQS for?
The PQS is for employers who want to highlight the value of their scheme to their employees.  The PQS helps them to do this by showing that the pension plan they offer has received a highly recognised award and is an integral part of the benefits package they offer to employees.

What is measured during the pension scheme assessment?

If the contribution rate is at least 20% (of which the employer contributes at least 15%), the scheme may be awarded a PQS With Merit Plus.

If the contribution rate is at least 15% (of which the employer contributes at least 10%), the scheme may be awarded a PQS With Merit.

Schemes with contribution rates of at least 10% (of which the employer contributes at least 6%) may be awarded the PQS, assuming that appropriate governance, investment and communications strategies are also in place.

More information is available here in the PQS Booket, which we require you to read in full before you apply.

How long does the PQS last for?
The PQS is awarded to a pension scheme for three years.  After this, if the scheme still meets all the requirements, the PQS will be renewed for a further three year duration.

Who can apply for the PQS?
Applications for the PQS will be accepted from IAPF members who run a DC pension scheme.

How do I apply?
First, we ask you to read the PQS Booklet as you will be required to meet the standards therein. We provide an online form for you to fill out and submit.  We also require that you forward us on your scheme membership booklet  by email to pqs@iapf.ie.

Why do IAPF offer the PQS to DC schemes?
We want to recognise those pension schemes that attain a certain standard which reflects qualitative contribution, communication and governance strategies for DC Schemes. We believe this promotes improved communications and greater appreciation of the pension scheme. This in turn can lead to greater engagement by members and better outcomes in retirement.

Click here to download the PQS Booklet

Click here to apply online

Click here for the PQS Evaluation Sheet

Apply Online

Use our online form to submit your application for the PQS.

Apply Online

Testimonials

PQS Booklet

The PQS Booklet contains all the information you need about the PQS.

Apply Online

Use our online form to apply for the PQS.  It's fast and convenient and we'll contact you as soon as we receive your application.

Apply Online

Need to talk to us?

If you need any more information before applying for the PQS, please get in touch with us on:

pqs@iapf.ie or 01 6612427


PQS Winners

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