By Martin Croucher (October 4, 2021, 3:36 PM BST) -- The Financial Conduct Authority published rules on Monday that set out how pension governance committees can check whether members of retirement plans are getting the best value for money on their savings.
The watchdog said the committees should compare the costs and charges of pension plans, their investment performance and their levels of service with others in the market to ensure that members get the most from their savings.
The FCA issued its policy statement more than a year after a consultation closed on the new rules for governance advisory arrangements and independent governance committees — two bodies that typically oversee the...
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