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

What role can advisers play in closing the gender pension gap?

What role can advisers play in closing the gender pension gap?

Advisers are uniquely placed to influence the gender pension gap

Olivia Perry
clock 02 July 2025 • 7 min read
TPR cross-sector working group initiative to 'bring pensions into the digital age'

TPR cross-sector working group initiative to 'bring pensions into the digital age'

Regulator intends it to be a ‘pivotal force’ in shaping the future of pensions

Holly Roach
clock 02 July 2025 • 3 min read
Why the real problems of the pensions dashboard are yet to start

Why the real problems of the pensions dashboard are yet to start

'Its aims seem not only less relevant but potentially problematic'

James Floyd
clock 23 June 2025 • 5 min read