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
Read our full terms of reference (PDF 183 KB)
We'll produce an annual report telling members about the work we’ve done to ensure value for money.
Read our latest report (PDF 11.2 MB)
Read our annual disclosure of workplace pension costs and charges here (PDF 33 KB).
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 Richardson
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.
Georgia Stewart
Georgia is co-founder and CEO of Tumelo, a company which inspires and enables pension members to engage with companies they are invested in on issues they care about, such as gender equality, human rights, and climate change. Her passion for Environmental, Social and Governance considerations and member engagement will help the IGC monitor Aviva’s ambitious net zero carbon targets, both from a corporate and investment perspective.
Ian Baines
Ian is an experienced pension professional who has helped manage a number of workplace pensions for several large UK employers.
He was formerly 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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