All value for money articles – Page 4
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NewsTPR, FCA to push for ‘consistent and structured’ approach to VfM
The Pensions Regulator and the Financial Conduct Authority are to push for a “consistent and structured” approach in the proposed new value for money framework governing defined contribution schemes, shifting the focus away from costs and towards “long-term value for pension savers”.
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NewsNew SPP president targets DC outcomes
The Society of Pension Professionals’ new president, Steve Hitchiner, has demanded greater focus on outcomes for defined contribution scheme members.
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NewsProcurement bill introduces uncertainty for regulated schemes
Government attempts to introduce flexibility to simplified public procurement processes could have an impact on regulated pension schemes, which will have to deal with increased uncertainty as a result.
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PodcastsPodcast: Partial AE reform should be prioritised before long-term fix
Podcast: The absence of auto-enrolment reform from the Queen’s speech means the government will be hard-pressed to meet its middle-of-the-decade deadline to achieve it. The priority should be getting the most important parts done as quickly as possible, and introducing the rest of the 2017 reform proposals enacted longer-term. Sackers partner Helen Ball and Mark Ormston, chair of the Industry Policy Committee at the Pensions Administration Standards Association, discuss auto-enrolment, online safety and the proposed value for money framework.
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NewsNo AE reform, but Queen’s Speech measures spark protests
There was no mention of automatic enrolment reform in the Queen’s Speech, but bills around local boycotts, online safety and a revamped audit and reporting framework will all impact the industry, experts have said.
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NewsTPR has used AE powers more than 500,000 times since 2012
On the go: The Pensions Regulator has used its enforced powers on automatic enrolment compliance on more than 500,000 occasions since July 2012, it has revealed.
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NewsCharge cap proposals criticised as govt launches illiquids consultation
The government has said it will “take time to consider” industry concerns around its proposals to exclude performance fees from the charge cap, and has launched a combined consultation into other ways in which to encourage defined contribution schemes to invest in illiquid assets.
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NewsPensions industry in dire need of 'real' fee transparency
On the go: Asset managers charging lower fees for global active equity funds often deliver better value for money, but the fees collected differ greatly from those presented in the public domain, according to a report from ClearGlass Analytics.
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NewsPensions market remains far from transparent, FCA says
On the go: The pensions market remains one of the least transparent, according to the head of pensions policy at the Financial Conduct Authority.
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NewsTPR not ruling out ‘value for money’ league tables
On the go: The Pensions Regulator is considering league tables as a way of implementing a new value for money framework for pension schemes, though it is not “leaning towards” them at present.
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NewsFCA says dashboards will increase advice ‘value for money’
On the go: The Financial Conduct Authority has said the pensions dashboards will increase competition in the advice profession and offer consumers better value for money.
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NewsThink tank warns old DC schemes can erode member benefits
On the go: Members could be suffering poor value for money and seeing their benefits erode by not moving their pensions out of old defined contribution pots, the Institute for Fiscal Studies has warned.
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PodcastsPodcast: DC focus must ‘fundamentally shift’ from costs to value in 2022
Podcast: The focus on defined contribution scheme offerings must “fundamentally shift” from costs to value for money in 2022 if better outcomes are to be achieved. Darren Philp, director of policy and communication at Smart Pension, and Mike Ambery, partner at Hymans Robertson, discuss the DC outlook, expanding auto-enrolment, and reforming Solvency II.
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NewsParliament moves to ban flat fees on small pots
On the go: Regulations have been laid before parliament that will see flat fees banned for pots of under £100, which the government hopes will benefit hundreds of thousands of savers.
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NewsRegulators’ value for money paper branded ‘utopian’ by SPP
On the go: The Society of Pension Professionals has criticised the “utopian” value for money discussion paper published by the Pensions Regulator and the Financial Conduct Authority, arguing that there is “no practical way” of achieving the goals set out.
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NewsDC consolidation and small pots limit can reduce value for money
A combination of the flat fees charging ban on pots worth less than £100 and an increase in consolidation schemes could reduce members value for money, the Pensions Policy Institute has warned.
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NewsRegulatory burden prompts fears of trustee exodus
On the go: Three-quarters of employers fear the trustees of their pension schemes will consider resigning rather than face an “onslaught” of regulatory and legislative change, according to a survey from the Association of Consulting Actuaries.
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NewsPPI: Governance should be focus of UK value-for-money framework
Lessons on how to successfully integrate robust governance procedures in providing value for money in UK pensions must be taken from overseas, the Pensions Policy Institute has said.
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NewsFCA opts for softer approach to charges comparison in DC schemes
The Financial Conduct Authority is taking a softer approach to cost and charges comparison requirements in defined contribution schemes after listening to industry feedback on its proposed rules.
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NewsCD&R called to reassure MPs over Morrisons takeover
On the go: Labour and Liberal Democrats MPs have warned Clayton, Dubilier & Rice that it must make guarantees to workers and rule out asset-stripping as it looks set to complete its £7.1bn Morrisons takeover.