Marvin OnumonuThe Pensions Regulator (TPR) has published a podcast discussing the future development of the joint value for money (VFM) framework.
The joint VFM framework is being created by TPR, the Financial Conduct Authority (FCA), and the Department for Work and Pensions (DWP), working with industry input.
It aims to set a consistent way to assess value, covering investment returns, costs, and service quality so schemes are easier to compare.
The framework is an example of joint working by regulators to improve transparency and trustee decision making, including on asset classes.
It is designed to encourage schemes to consider all aspects of value, not just compete on price.
In the podcast, Patrick Coyne, interim director of policy and public affairs at TPR, and Nike Trost, head of asset management and pensions policy at the FCA, discussed how the framework is being developed, what it sets out to achieve, and how it will be introduced.
The framework is expected to help employers make better decisions for workplace pensions.
