Value for Money.
The firm provides IGCs and providers with the clarity to stand behind the Annual Statement, beyond the regulatory rating — a productised route through the FCA and TPR Value for Money regime under CP26/1, with the regulatory rating plus a welfare overlay that gives the Annual Statement narrative its methodological backbone. Tied to the in-force cycle from 2028.
The regulatory rating, plus the welfare overlay it doesn’t supply.
The Value for Money Service produces the Green / Amber / Red regulatory rating under the CP26/1 framework, plus a forward-looking welfare-functional overlay that gives the Annual Statement narrative its methodological backbone. The rating answers the regulator’s question. The overlay answers the IGC’s: is the rating consistent with what members can reasonably expect from the arrangement?
Methodology operationalised through Congruent Calculations™; calibrated to the rating regime taking effect in 2028; engaged on the regulatory annual cycle once in force.
Concentrated channel — the IGC and workplace DC market.
VFM is the firm’s most channel-concentrated solution: the bulk of the commercial pipeline is projected from the IGC and workplace DC channel.
IGCs & trustee boards
IGC chairs and committee members; trustee boards of mastertrust and own-trust workplace DC arrangements. The Annual Statement narrative is where the substantive governance work happens; the welfare overlay supplies that backbone.
Workplace DC providers
Provider-side compliance functions; consultancy firms supporting workplace DC arrangements in their CP26/1 readiness. Multi-arrangement provisioning supported via platform integration.
Regulators & public bodies
Supervisory engagement with FCA and TPR; thematic review and consultation responses.
Bespoke pilot engagement now; productised pricing at regime in-force.
Now — bespoke pilot
The firm is in pilot with a small number of IGC and trustee partners ahead of the 2028 in-force date. Pilot engagements focus on CP26/1 readiness, forward-looking welfare projection on the current arrangement, and informing the productised Solution. Scoped at first conversation; engagement letter agreed before work begins.
From 2028 — productised
Annual subscription tied to the regulatory cycle. Fixed-fee for standard arrangements; multi-arrangement discounting for providers and master trusts. Pricing structure will be published at regime in-force. Engagement runs annually, aligned with Annual Statement preparation.
Statement of Work — how the fee is fixed
Engagements are scoped through a first conversation and then fixed in writing before any work begins. The firm’s Invitation Letter contains a Statement of Work fixing: the scope of the engagement, the timetable for delivery (key milestones and final-deliverable date), the price (with any stage payments scheduled against milestones), and the named individuals on both sides.
The scope-to-price conversion is based on the firm’s published charge-out rate: £350 per hour for engagements led by a Director or Senior Actuary (the only grades that lead engagements at Congruent). The Statement of Work converts scoped hours into a fixed fee — the buyer’s commercial commitment is to the fee in the Statement of Work, not to an open-ended hourly meter.
The firm tends to come in competitively on the fixed quote. Because Directors lead engagements directly — without the layered team structure typical of larger firms — scoped hours convert into a fixed fee that compares favourably against equivalent senior-led work elsewhere in the market.
Rate as at 1 January 2026, reviewed annually.
Brief us on your CP26/1 readiness.
The firm is currently in pilot with a small number of IGC and trustee partners, ahead of the 2028 in-force date. The full Value for Money service goes live alongside the regulatory regime in 2028.