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ARTICLE · 18 SEPTEMBER 2026

DC Overview Series: Value For Money

Stephenson Harwood
Stephenson Harwood
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United KingdomLaw Practice Management
Estella Bogira
Estella Bogira
Stephen Richards
Stephen Richards
Alicia Instone
Alicia Instone

Welcome to DC Overview, our DC-specific publication designed to bring trustees, master trust providers and employers the latest news and insights in the world of DC pensions.

DWP has recently published a consultation on draft regulations for the forthcoming Value for Money (VFM) regime. It’s clear that schemes containing DC arrangements caught by these requirements need to gear up for a significant new addition to their workload. Spoiler alert: the new regime extends beyond what you might expect “value for money” to encompass! Here is a quick overview of those regulations.
 

WHICH SCHEMES WILL BE AFFECTED?

Trustees of affected schemes will have to compare their scheme against other schemes every year and publish a VFM report in which they categorise the extent to which their scheme delivers value for money.

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