âThis is a complex issue that affects almost all retirement savers, so it’s important that we do it right,â Sarah Pritchard, executive director of markets at FCA, said in a press release Thursday. “The proposals will help anyone making decisions on behalf of consumers really challenge suppliers in terms of value and allow for better comparisons between products.”
David Fairs, executive director of regulatory policy, analysis and advice at TPR, added in the press release: âValue for money in retirement is a key priority for TPR – it’s all part of our work to put savers at the heart of what we do. Regulators, industry and others need to be able to effectively assess value for money to ensure good retirement outcomes. “
Commenting on the framework, George Currie, consultant in DC practice at consultant Lane Clark & ââPeacock, said in an emailed comment: âThis consultation focuses on developing the industry’s capacity to help members access help maximize their savings.
“In our experience, employers often find it difficult to understand the VOR offered by different types of plans and therefore a harmonized approach that makes the options available more comparable will be a real step forward for the market,” added Mr. Currie. .
John Wilson, technical, research and policy manager at independent trust company Dalriada Trustees, said in another emailed comment: ESG. This will help administrators to undertake these evaluations. At present, the approaches are quite diverse in terms of content, completeness and, above all, cost.