All firms who operate workplace personal pension schemes are required by the Financial Conduct Authority (“FCA”) to establish and maintain an Independent Governance Committee (IGC). The IGC is tasked with making sure workplace personal pensions are well run and deliver value for money for members. An IGC must have a minimum of five members, the majority of which must be independent with an independent chair.
IGCs are a critical part of a well-run pension scheme and, therefore, choosing the best independent members and chair is one of the most important decisions trustees can make.
Whether you’re looking to set up an IGC or need some fresh input into a current committee we can help. We know the pension landscape and can make independent assessments on issues such as good governance, value for money from advisers, transaction costs, annual reporting and making appropriate recommendations to the trustee board.
We employ independent trustees with many years of experience across different sectors, sizes and types of pension schemes.
Please get in touch to discuss your needs and how we can help.
