The Financial Conduct Authority (FCA) has published a consultation on a value for money (VfM) framework for savers invested in default arrangements of defined contribution (DC) schemes.
The consultation, which has been developed in collaboration with The Pensions Regulator (TPR) and the Department for Work and Pensions (DWP), would be used by pension providers and trustees making decisions on behalf of their members to provide increased transparency on how the schemes are performing and enable comparisons to be made across the DC landscape for both trust-based and contract-based schemes. The consultation builds on a previous collaboration between the government and the regulators published last year. The framework will introduce four elements and will require consist...
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