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

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