Overview
- Pension providers would be required to publish comparable data on investment performance, charges and service quality.
- Schemes graded as red or amber would have to improve or move members to better options, with possible steps including closing to new business and transferring savers.
- The rating scale adds dark green for top performers and light green for good value, alongside amber for improvement needed and red for poor value.
- Regulators highlight the stakes for savers, noting a £10,000 pot could be about £4,700 larger over five years in a higher-performing scheme versus a weak one.
- Forward-looking 10-year return and risk measures are included, though experts warn they could be gamed, and final rules hinge on consultation feedback and the Pension Schemes Bill receiving Royal Assent.