Commenting on the joint discussion paper by The Pensions Regulator (TPR) and the Financial Conduct Authority (FCA) ‘Driving Value for Money in DC Pensions’, Laura Andrikopoulos, Head of DC Governance, Partner says:

“We welcome the joint TPR/FCA discussion paper on assessing value for money in DC schemes. A common framework is essential to support members’ in understanding to what extent their current arrangement provides value regardless of its overarching trust or contract based structure. Currently there are a number of definitions of ‘value for members’ and ‘value for money’ in play which hinders proper comparison and transparency. We look forward to seeing a joined-up approach to value assessment in DC pensions that puts member outcomes at the heart of its considerations of what really constitutes good value, as opposed to a narrower focus on charges that fails to capture the complete picture.”