In response to the Value for Money framework materials published by the FCA and TPR, Ben Infield, Senior Policy Adviser, Long-Term Savings at the ABI said:
2026 is set to be a transformative year for pensions, and the Value for Money framework will play a key role within this. By assessing workplace DC schemes on their overall value, rather than a narrow focus on cost, employers will be able to compare schemes more holistically, helping to drive better outcomes for savers.
We’re pleased to see the regulators and government have listened to industry and included provisions for a more nuanced approach on scoring assessments as well as a reduced set of data requirements. The inclusion of forward-looking metrics is also vital, to ensure schemes aren’t penalised for investing in global and UK private markets where long-term investment can deliver greater value over time.
Plans to apply the framework consistently across both trust and contract-based schemes will also help to ensure a level playing field for providers and clear outcomes for savers. We look forward to continuing our close work with the FCA, TPR and DWP through the consultation, paying close attention to the revised scoring assessment.
Ben Infield
Senior Policy Adviser, Long-Term Savings Policy