8 March 2026
Pensions UK has submitted a response to the joint FCA, TPR, and DWP consultation on the Value for Money Framework. The Framework represents a significant shift in how pension arrangements are assessed, rated, and compared. In our response, we broadly support the direction of the proposals - including the RAGG rating system and forward-looking metrics - while calling for a light-touch first year of assessments, additional dry runs, and careful management of the consequences associated with Amber ratings.