All schemes will be required to assess value for money for members
Framework designed to shift focus from costs to long-term value and deliver better outcomes
'Evolutionary, rather than revolutionary change' in pensions
Regulator monitoring the situation in financial markets closely to assess impact on schemes
Savers close to retirement likely to experience large falls in fund values
Govt plans to remove performance fees from DC charge cap
Falls in actual returns were offset by rises in expected future returns
Government is ‘keen to move quickly'