Pension experts supportive of VfM proposals but warn 'challenges remain'

Responses to consultation on VfM framework for DC schemes

Holly Roach
clock • 6 min read

The pensions industry has praised the “practical direction” regulators have taken over the value for money (VfM) framework, but warned “important challenges” remain.

This comes after the consultation launched by The Pensions Regulator (TPR), the Department for Work and Pensions (DWP) and the Financial Conduct Authority (FCA) on a VfM framework for defined contribution (DC) schemes closed for responses yesterday (8 March). Responding to the consultation, the Society of Pension Professionals (SPP) praised many proposals including extending the framework to cover default pension benefit solutions. It also supported disclosures that enhance comparability between multi-employer arrangements with variable charging structures and support the broad principle...

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 Regulation

FCA: Simplified advice rules update imminent; MPS review outcome set for 2027

FCA: Simplified advice rules update imminent; MPS review outcome set for 2027

Regulator's Kate Tuckley gives update

Isabel Baxter
clock 08 September 2026 • 3 min read
DB transfer adviser hit with provisional FCA ban and £742,700 fine

DB transfer adviser hit with provisional FCA ban and £742,700 fine

Daniel Thomas advised 53 clients, including four British Steel scheme members

Sophia Panayi
clock 03 September 2026 • 2 min read
Proving good customer outcomes still a challenge for financial planners

Proving good customer outcomes still a challenge for financial planners

Firms face practical challenges in Consumer Duty board reporting

Sophia Panayi
clock 03 September 2026 • 2 min read