On 29 May 2025, the Financial Conduct Authority (FCA) published a statement responding to the Government’s final report on its Pension Investment Review.

In the statement, the FCA flags the importance of ensuring consumers get good value from their pension savings and notes that this has been a central part of its work to introduce a value for money (VFM) framework.

The FCA consulted last year on suggestions for a VFM framework, including proposals relating to asset allocation data disclosure. It now plans to contact relevant firms later in 2025 and ask them to provide data in early 2026 so that it can better understand how firms think about asset allocation and refine its proposed rules.

The statement also explains that the FCA is working closely with the Government and The Pensions Regulator to make sure the proposals for the contract-based and trust-based sides of the pension market align wherever possible.