Policy paper

Poor value workplace pension schemes: a review

A joint DWP and FCA review of industry progress in remedying poor value workplace pension schemes.


Remedying poor value legacy workplace pension schemes: Findings from the joint review of industry progress against the Independent Project Board recommendations

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This report summarises the findings of a joint review of industry progress in remedying poor value workplace pension schemes by the Department for Work and Pensions (DWP) and the Financial Conduct Authority (FCA).

It also outlines the next steps and the main actions that will be taken by DWP and FCA, as well as the main actions we are looking for from:

  • pension providers
  • independent governance committees
  • trustees

The report follows a recommendation for such a joint review in the Independent Project Board (IPB) final report (December 2014). The IPB was established by the Association of British Insurers to oversee an audit of older, so called legacy pension schemes, in 2014.

Published 13 December 2016