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The Pensions Regulator (TPR) and the Financial Conduct Authority (FCA) have launched a joint discussion paper on developing the framework for measuring value for money (VFM) in defined contribution (DC) pension schemes.

The regulators have proposed a common framework for disclosing information on what they describe as the “key elements” that make up VFM: investment performance; scheme oversight, including data quality and communications; and costs and charges




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