Michael Chatterton part of panel discussion about Value for Money
22 October 2015
Michael Chatterton was part of Barnett Waddingham’s panel discussion about Value for Money (VFM) in DC pension schemes that took place earlier in the week.
VFM has been bought to the centre stage of pensions governance following the need from April this year for trustee boards, independent governance committees (IGCs) and master trusts to assess VFM for members. The discussion considered a number of aspects of VFM and the views from a number different perspectives were expressed.
In his role as independent pension trustee, Michael suggested that quality, risk, relevance and costs were the four key measures best used when assessing the VFM of products and services. He also expressed his view that whilst reducing charges and ensuring ideal services are important, getting higher contributions into pensions was of the first order.
LawDeb Pension Trustees is seeing an increasing demand for their services for DC schemes – with a growing number of schemes and its involvement in IGCs since their start earlier in the year.