Regulatory Alerts2023-01-27
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FS23/3: Government-regulator response to ‘Value for Money: A framework on metrics, standards and disclosures'
The FCA, DWP, and TPR refine their approach to implementing a Value for Money framework for defined contribution pension schemes, starting with workplace default arrangements in accumulation. The framework requires DC schemes to provide standard metrics and follow a consistent assessment approach, while trustees and providers of underperforming schemes must improve value or consolidate. This shift aims to move focus from predominantly cost to a holistic view of value, including investment returns, to improve performance and saver outcomes.
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