The SPP response to the DWP/FCA consultation on the Value for Money Framework draft regulations & draft FCA rules

The SPP has confirmed it supports the Value for Money (VfM) framework proposals and its phased implementation, welcoming measures to ease the initial burden on schemes and providers.

However, the SPP is calling for greater clarity on the framework’s scope, particularly for AVCs, hybrid schemes, single employer trusts and future coverage of non-workplace, decumulation and collective defined contribution (CDC) arrangements.