Consumer Duty spurs pension providers to ensure fair value

Majority of providers to update value-based assessments yearly

Sahar Nazir
clock • 1 min read

Pension providers have researched cost and charges on comparable products in the market to ensure they represent fair value as a result of Consumer Duty.

According to Benefits Guru, financial advisers asked their pension providers if they found "details of members [who] may be incurring higher charges than is relative to the product" when completing their fair value assessments, the majority answered "no following Consumer Duty". Benefits Guru also found that workplace pension providers achieved their strongest performance ever in the 2023 Benefits Guru annual workplace pension and auto-enrolment ratings. Nine providers, including Aviva, Royal London, and Scottish Widows, have earned coveted "overall gold" awards for their workplace pe...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Former Titan Wealth employee sentenced to community order for harassment

Former Titan Wealth employee sentenced to community order for harassment

Okunola handed 100 hours unpaid work and two-year restraining order

Sahar Nazir
clock 19 September 2025 • 1 min read
PA Awards 2026: Last chance to enter today!

PA Awards 2026: Last chance to enter today!

Celebrating the best in financial planning and advice

Professional Adviser
clock 19 September 2025 • 1 min read
Feel Good Friday: Quilter partners to help Armed Forces community become advisers

Feel Good Friday: Quilter partners to help Armed Forces community become advisers

Wealth manager partners with White Ensign Association and Forces Transition Group

Professional Adviser
clock 19 September 2025 • 1 min read