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Govt and regulators launch consultation on VfM framework


By Jack Gray

The Department for Work and Pensions (DWP), Financial Conduct Authority (FCA), and The Pensions Regulator (TPR) have launched a consultation on the value for money (VfM) framework.

Under the proposals, pension schemes will be required to publish ‘clear data’ on their performance, costs, and quality of service


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Industry backs updated VfM framework but warns further refinements needed

Industry figures have welcomed the publication of a new joint consultation on the value for money (VfM) framework, while calling for further work to ensure the approach is fair, comparable, and focused on member outcomes

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PDP proposes industry group to support delivery of private sector dashboards

The Pensions Dashboards Programme (PDP) has outlined its proposed approach to collaborating with the industry to deliver private sector dashboards (PSD)

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Pensions UK urges ‘practical, proportionate reform’ for LGPS

Pensions UK has urged the government to ensure a “practical and proportionate” approach to reforms to the Local Government Pension Scheme (LGPS) in England and Wales

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Millions of retirement incomes will fall short of ‘adequate’, PensionBee finds

Millions of people in the UK could find themselves faced with a far lower income in retirement than is generally considered adequate, according to data from PensionBee

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News in brief - 9 January 2026

The latest news in brief and mandates from the past seven days

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DB schemes urged to rethink endgames as surplus reforms edge closer

Defined benefit (DB) pension schemes should reassess their endgame strategies in 2026, as legislative reforms and funding strength bring surplus sharing and run-on options firmly into focus, Hymans Robertson has said.

In its DB Outlook Report 2026, the consultancy stated that the expected passage of the Pension Schemes Bill will mark a turning point for DB schemes, introducing reforms designed to unlock more than £100bn of surplus capital and create greater flexibility over how schemes manage their endgames

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