Category: VFM

  • Regulators face a recurring problem

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    How do you ensure accountability without removing the judgement that good decision-making requires? There is no cost-free answer; metric-based systems cost less to administer but can distort behaviour, while qualitative supervision is more flexible but can place greater demands on regulators and schemes. The VFM framework was introduced to address the problem of high charges…

  • Why DC struggles to follow LGPS

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    Defined Contribution (DC) schemes are under growing pressure to back UK growth, but the example they are told to follow – the Local Government Pension Scheme (LGPS) – has some advantages they cannot easily replicate. Border to Coast’s £500m UK opportunities strategy shows what can be achieved when funds pool and commit to illiquid assets.…