PA360 North: Workplace pension VfM changes bring advice opportunity

All schemes will be required to assess value for money for members

Jenna Brown
clock • 1 min read

The introduction of workplace pensions value for money (VfM) rules will give advisers an opportunity to help clients who find themselves in red-flagged schemes, delegates heard.

New rules mean defined contribution (DC) workplace pension schemes will be categorised under a traffic light system pegged to VfM for members. Speaking at PA360 North today (1 October), AJ Bell head of public policy Rachel Vahey said the policy would be introduced shortly and was going to change workplace pensions. "This is going to be brought in across all DC workplace pension schemes," she said. "The Financial Conduct Authority consultation is out now, and closing soon. The Pension Schemes Bill will include legislation on this for occupational schemes. "It wants to knock out all ...

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 Pensions

Do clients already own the best retirement portfolio?

Do clients already own the best retirement portfolio?

'Feeling safer and being safer aren't the same thing'

Alex Funk
clock 29 October 2026 • 4 min read
Budget 26: Government to get rid of two-year tax rule on lump sum death benefits

Budget 26: Government to get rid of two-year tax rule on lump sum death benefits

Changes will also be made to how tax due on excess lump sum death benefits is collected

Jonathan Stapleton
clock 28 October 2026 • 1 min read
Budget 26: State pensioners to be shielded from income tax

Budget 26: State pensioners to be shielded from income tax

State pension expected to rise to £13,036

Sophia Panayi
clock 28 October 2026 • 2 min read