All value for money articles – Page 5
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Features
Should there be an industry-wide methodology for measuring value?
An agreed definition of value for money may help schemes measure value, but it is more important that trustees understand what they are buying and why.
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News
Joint watchdog strategy to include consumer journey review
The Financial Conduct Authority and the Pensions Regulator have launched a joint regulatory strategy to deliver better outcomes for pension savers, with priorities including a planned consumer journey review and a focus on driving value for money.
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News
Opperman's consumer choice AE meeting draws ire of industry
Workplace pension providers and advisers have expressed fury at reports that minister for pensions and financial inclusion Guy Opperman will attend a meeting to discuss letting members choose their auto-enrolment provider.
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OpinionCMA investigation: Less talk, more action required
The impact of the Competition and Markets Authority’s recent investigation will depend on the way its recommendations are implemented, writes PwC’s Keira-Marie Ramnath, but in the meantime there are simple ways for trustees to better assess value for money from advisers.
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OpinionTransparency welcome, but method for managing info yet to be agreed
Despite the new requirement for transaction costs to be disclosed in a clear and meaningful way, full transparency is yet to be achieved and a method for dealing with the information in a proportionate and effective manner is yet to be agreed, says PTL’s Melanie Cusack.
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News
DC value: Small schemes falling short of standards
On the go: Small defined contribution schemes are not meeting the Pensions Regulator’s expectations when it comes to demonstrating value for members, according to its latest research.
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OpinionSchemes must not let consultants hide behind advice excuse
We all know that trustees should assess the performance and value for money provided by their investment consultants – the real question is how to achieve this, says CEM Benchmarking’s Tej Dosanjh.
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OpinionSelect committee’s new inquiry misses the point
From the blog: It is bizarre that the Work and Pensions Committee is questioning whether people understand the cost and value for money of their pension products when the Financial Conduct Authority has only just published research that answers their question.
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OpinionMaking data count – how to use the IDWG cost code
From the blog: Following nine months of detailed work by the members of the Financial Conduct Authority’s Institutional Disclosure Working Group, new cost data templates will, for the first time, provide an industry-agreed, consistent approach to collecting this important information.
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OpinionWhat could we expect from the regulators’ joint pension strategy?
How could the Financial Conduct Authority and the Pensions Regulator’s joint strategy improve pensions regulation? Aegon’s Kate Smith discusses the regulators’ current responsibilities and the benefits of the watchdogs working together on certain issues.
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OpinionPutting a value on your future
Helen Dowsey from master trust Nest looks at whether and how value for members can be defined and measured.
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OpinionHow can employers, providers and trustees work together to ensure good governance?
Rosemary Lemon from Hays, Caroline Roberts from Visit Britain, Nasir Rafiq from Islamic Relief Worldwide, Mark Rowlands from Nest, Ami Bartrip from the Financial Times, Jason Green from Finance & Technology Research Centre and, Andy Cheseldine from Capital Cranfield, discuss the importance of governance in delivering good member outcomes.
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Opinion
Trustees must delve deeper to provide value for members
The future retirement wealth of millennials hinges on how well trustees can identify value for members, so are there key areas where it can be found?
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OpinionCost disclosure is only valuable if you know how to use it
Cost disclosure will give the industry the injection of transparency it has needed for years – but what to do with the new data? John Simmonds of CEM Benchmarking outlines a strategy for making sense of costs.
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Opinion
Making retirement personal
Master trust Nest explains why a strong default option is crucial.
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OpinionCampaign for greater transparency is critical to proper governance
Chris Roberts at Dalriada Trustees explains the benefits of the FCA’s new requirements for fund managers to provide details of transaction costs when requested to do so by trustees or IGCs.
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OpinionChallenging providers is key to boosting value
Questioning service providers, understanding member preferences and striving to ensure effective governance can all help to boost value, explains Legal & General Investment Management’s Emma Douglas.
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Features
What schemes can do to drive value for members
The job of a defined contribution default fund is simple; to generate enough savings to fund a meaningful income for an individual at retirement. Of course, in the real world, it is not as straightforward as that.
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OpinionHow to get a good deal from your TPA
Pension schemes exist with the sole purpose of providing members with the right pension at the right time. The administration provider is key to fulfilling this purpose and ensuring a positive member experience, writes Dalriada’s Adrian Kennett.
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OpinionMaster trust consolidation – at what cost?
Regulators should be wary of an overzealous insistence on consolidation to a specific number of mastertrusts, and must focus instead of clearly defined standards of governance, writes Colin Richardson from professional trustee company PTL.