Defined contribution (DC) pension schemes will need to publish "clear data" on their performance, costs, and quality of service under plans laid out today (8 January).
In a joint consultation, The Pensions Regulator (TPR), the Department for Work and Pensions (DWP) and the Financial Conduct Authority (FCA) outlined their plans for a value for money (VfM) framework for DC schemes. The FCA said: "If a pension offers poor value, firms and trustees must then fix it by moving savers to better schemes or driving improvements." The government and regulators said the consultation proposals focus on long-term value and provide new measures to show what returns and risks DC savers can expect over the next ten years. The consultation proposes revisions to t...
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