What are Independent Governance Committees?
Independent Governance Committees (IGC's) were established by workplace pension providers in April 2015, following the introduction of new rules from the Financial Conduct Authority (FCA).
Their purpose is to ensure that your pension with Aviva provides value for money.
Aviva and the Independent Governance Committee
The Independent Governance Committee act solely in the interests of scheme members and operate independently of Aviva.
We assess and, where necessary, challenge Aviva on the value for money of workplace personal pension schemes.
Our role is to:
- Assess the the value for money of your workplace pensions on an ongoing basis, using a 'Value for Money Framework'
- Assess the quality of benefits and services and minimum governance standards
- Consider whether costs and charges are fair and appropriate for the services provided and improve transparency
- Raise any concerns we have to the Aviva Board in the first instance, and ultimately, to the FCA should we feel our concerns have not been adequately addressed
We'll produce an annual report telling members about the work we’ve done to ensure value for money.
For a PDF version of the report click here (PDF 11.6 MB)
We want to hear your views. If you’d like to get in touch with us, email us at IGC@aviva.com
Members of the Independent Governance Committee
Colin is a trained actuary and worked as an employee benefit consultant before becoming a professional trustee. Colin has a wealth of experience of DC master trusts, single employer trusts and hybrid schemes.
Robert served as Executive Director and Chief Investment Officer for Royal London for 10 years between 2004 and 2014, developing an investment team which has delivered outstanding investment performance during his time there.
With over 30 years' experience, Robert has represented the industry with regulators and policymakers on topics such as market structure, corporate governance and company engagement, and until recently chaired the investment committee for the Association of British Insurers and the Asset Management Committee of the Investment Association.
Marcia is an independent non-executive director with over 25 years' experience in the financial services industry, encompassing strategy, IT, operations and international development.
She is currently on the Board of Canada Life, Sainsbury’s Bank; CNP Assurances, (France’s leading life assurer), and Murray International Trust, a FTSE 250 Investment Trust.
The main part of her executive career was with Standard Life plc, where, latterly, she was a member of the Group Executive Committee responsible for group operations and CEO Asia Pacific.
Gurmukh is a professional independent trustee and governance adviser. He has been involved in pensions for over 35 years, having worked for 2 leading pensions providers and in KPMG’s pensions practice for 28 years. He served as a KPMG pensions partner from 2000 to 2016.
He led KPMG’s DC pension practice for over 10 years, advising employers/trustees on all aspects of pension scheme design, governance, communication and investment.
He brings deep cross-sector experience, having advised employers ranging from SMEs, mid-Corporates through to FTSE 100 organisations.
He is an Associate of the Chartered Insurance Institute and has been an FCA authorised adviser for over 30 years.
Ian is an experienced pension professional who has helped manage a number of workplace pensions for several large UK employers.
He is currently head of pensions at Nationwide Building Society where his team won team of the year at Nationwide’s annual awards for their work in promoting employee pension savings.
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