Tom Selby: FCA right to focus on costs and charges in value-for-money push

Rules from September 2022

clock • 4 min read

There was more than a little, ‘you don't say, Mr Holmes' about the Financial Conduct Authority's (FCA's) latest missive on delivering value-for-money in the defined contribution (DC) pensions market, writes Tom Selbey, who takes a look at the new rules for IGCs...

The regulator is keen to ensure independent governance committees (IGCs) and governance advisory arrangements (GAAs) - two of the more recent additions to financial services acronym bingo - adequately assess whether workplace pensions and the recently-introduced investment pathways are delivering value for investors. Specifically, from September 2022 IGCs and GAAs will need to: Take into account three key elements of value-for-money: costs and charges; investment performance; and services provided (including member communications) Assess and report on value-for-money, particularly...

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

WBR group buys financial planning firm's SSAS book

WBR group buys financial planning firm's SSAS book

Part of long-term growth strategy

Jenna Brown
clock 05 May 2026 • 2 min read
The £22.40 question: Are clients in the dark on the full state pension?

The £22.40 question: Are clients in the dark on the full state pension?

'The political architecture is elegant, from the Treasury's perspective'

James Floyd
clock 05 May 2026 • 3 min read
Alltrust acquires Phoenix Wealth Family Suntrust schemes

Alltrust acquires Phoenix Wealth Family Suntrust schemes

Completion expected later this year

Jenna Brown
clock 29 April 2026 • 1 min read