Independent Governance Committee
Engage now on investment pathways to avoid February stand-off, IGCs warned
Providers are failing to engage early with their independent governance committees (IGCs) over the rollout of investment pathways despite the looming 1 February deadline, they have been warned.
Vanguard appoints IGC to oversee personal pension investment pathways
Vanguard has appointed an independent governance committee (IGC) to oversee the implementation of investment pathways for non-advised self-investment personal pension (SIPP) drawdown users.
Hargreaves Lansdown appoints three IGC members
Hargreaves Lansdown has appointed three new members to its independent governance committee (IGC).
EValue launches investment pathway solutions
EValue has launched a range of investment pathway solutions ahead of the implementation deadline next February.
Scottish Widows publishes IGC report
Scottish Widows’ independent governance committee (IGC) has published its annual chairman’s report – giving the provider a good value for money rating for its modern products but suggesting improvements, particularly for the firm’s legacy offerings.
Standard Life and Zurich unveil IGC reports
Standard Life and Zurich have published their latest independent governance committee (IGC) reports – posting overall green and amber value-for-money assessments respectively.
FCA Pension Plan slashes deficit by 28%
The deficit in the Financial Conduct Authority's (FCA) defined benefit (DB) scheme fell by £32.3m over the course of the year to 31 March this year, the watchdog has revealed.
Underperformance causes drop in Royal London IGC's investment rating
Royal London's independent governance committee (IGC) has downgraded its rating for appropriate investment returns after all default funds caused a fall in pot values.
Five stories you may have missed this week
This week's top stories included an accountant admitting fraud and making employer-related investments in the latest criminal prosecution pursued by The Pensions Regulator.
IGCs face stronger ESG reporting duties under FCA plans
Contract-based schemes could face requirements to disclose their firms' policies on environmental, social and governance (ESG) issues under Financial Conduct Authority (FCA) plans.
Steve Goddard: Why the 'dartboard drawdown' option must be removed
Savers face a huge number of options at-retirement. Steve Goddard believes this 'dartboard of choice' should be take away and an additional layer of trustee governance is needed to protect members in the deculmulation phase
Ex-FCA advice director Linda Woodall joins Aegon
Former Financial Conduct Authority (FCA) life insurance and financial advice director Linda Woodall has been appointed to Aegon's independent governance committee (IGC).
Pre-1997 benefits should not have statutory inflation protection, say half of respondents
Granting statutory protection to pre-1997 benefits in defined benefit (DB) schemes would be an unfair cost to sponsors and would force even more closures, according to this weeks' Pensions Buzz respondents.
FCA mulls expanding IGC remit with social investing duties
Independent governance committees (IGCs) may see their remit expanded to include reporting on social investing issues under Financial Conduct Authority (FCA) plans unveiled in its business plan today.
Have your say: Is TPR right to name and shame non-compliant schemes?
In this week's Pensions Buzz, we want to know if The Pensions Regulator (TPR) is taking the right approach by naming and shaming schemes which breach their auto-enrolment (AE) duties.
How IGC reports are not living up to their purpose
An analysis of IGC annual reports finds some lacking in information on value for money, costs and charges, and investment performance. James Phillips explores the findings
Costs and charges slashed for £25bn of DC accounts
Defined contribution (DC) savers face lower costs and charges after providers made a concerted effort to reduce these to less than 1% over the past two years.
How DC fund charges will become more transparent
From 3 January next year, firms looking after DC members' money will need to comply with new disclosure requirements. James Phillips reports.
PB UK: Build diversity on trustee boards from the grassroots
The industry should look to encourage diversity and appointment of young trustees through recruitment at the grassroots according to a panel of trustees at Pensions and Benefits UK.
LISA needs IGC model to ensure appropriate investments
The lifetime ISA (LISA) needs an independent governance mechanism to ensure savers' money is invested appropriately, PTL has argued.
Has the FCA found the right solution for hidden transaction costs?
As the FCA closes its consultation on improving transparency of costs and charges in pension schemes, James Phillips asks the industry whether the watchdog has the right solution.
Royal London hires deputy group finance director
Andrea Montague has been hired to the new role of deputy group finance director at Royal London.
More workers on boards would not improve pension coverage
Most respondents to this week's Pensions Buzz do not believe more workers on company boards would improve pension coverage.
IGCs team up to study members' views on value for money
Independent Governance Committees (IGCs) have joined forces to better understand what value for money means for scheme members.
