Value for money

Everyone wants VFM—but what represents value, and for whom?

The pensions industry has raised some concerns around the Financial Conduct Authority’s (FCA) value for money definitions for workplace pensions.

Plans to improve value to members in defined contribution (DC) plans by improving investment options and governance while consolidating small schemes have been welcomed as a “wake-up call” for the industry.

Costs and fees are just a small part of the overall value for money definition, argues Con Keating

It is perhaps inherently difficult to find an agreed definition of value for money, but some methodologies could act as a stopgap, argues Jonathan Stapleton.

The majority of this week's Pensions Buzz respondents agreed with the Financial Conduct Authority's (FCA) proposal to ban contingent charging on defined benefit (DB) transfer advice.

The government and regulators should not wait for the industry to "fail to act voluntarily" to provide value for money in pensions, the Work and Pensions Committee (WPC) says.

Henry Tapper shares his thoughts on how IGCs could provide value for money statements that people wanted to read

Investment consultants including the 'big three' have all agreed to participate in discussions to develop a strategy to demonstrate whether they provide value for money to pension fund clients.

More than half of people over the age of 55 see financial security as a top priority in retirement, yet a third allocate more time to buying a new car, finds Legal & General (L&G) research.