FCA workplace pension governance rules focus on value for money

The five-person committees will be charged with representing the interests of members, assessing value for money, and challenging providers where necessary. They were initially proposed after an Office of Fair Trading probe uncovered conflicts of interest in the workplace pension market. The final rules have been published at the same time as regulations intended to improve governance and protect workers auto-enrolled into trust-based schemes were laid before parliament. FCA director Christopher Woolard director of strategy and competition said: "Pensions are complex and employees ...