Why the FCA are so keen on IGCs


Slipped into the wash-up of consultation responses and Calls for Input published in the last full business week of 2019 was the FCA’s PS19/30 which substantially extends the role of Independent Governance Committees (IGCs). IGCs currently provide independent oversight of the value for money of workplace personal pensions in accumulation, i.e. before pension savings are accessed. The FCA’s final rules extend the remit of IGCs, with: a new duty for IGCs to consider and report on their firm’s policies on environmental, social and governance (ESG) issues, member concerns, and stewardship, for the products that IGCs oversee a new duty for…

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About Author

Henry straddles the world of traditional finance and FinTech and is an active entrepreneur who helps people make good pension decisions. He founded AgeWage and the Pension PlayPen to map the pensions genome and ensure everyone gets data driven information on value for money

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