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...
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