Tag Archives: IGC

Time for the FCA to review its DC lifestyle guidance ?

Posted on January 17, 2023 by henry tapper

Thanks to James Farr of Aviva for helping me out with the FCA’s most recent pronouncements on pension lifestyling. James and I worked together at Zurich some 20 years ago and it’s great to know compliance experts at a time … Continue reading →

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“How do we tell the children?” Our awkward problem over lifestyle.

Posted on January 16, 2023 by henry tapper

  For the purpose of this article – I will refer to some savers as our “children“, those under our care who have suffered loss while sleeping. They are the unwitting victims in the collapse in bond markets , including … Continue reading →

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Assessment of 2021 IGC reports – a boring read but an important one!

Posted on October 23, 2022 by henry tapper

Despite the efforts of the FCA to make IGC reporting more relevant to ordinary savers, I found this crop of IGC reports were bland and unambitious in their reporting of VFM. No IGC suggested that  value for money was not … Continue reading →

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ReAssure’s IGC report – proves there can be value at the bottom of the barrel.

Posted on October 17, 2022 by henry tapper

This article focusses on the IGC Chair’s report for ReAssure, published in September for the year to the end of 2021. As its Chair, David Hare makes clear, it doesn’t include the member experience for 2022, that will follow – … Continue reading →

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Phoenix IGC – making sense of legacy pensions.

Posted on October 11, 2022 by henry tapper

Phoenix has published its 2022 IGC statement for the period up to 31st December 2021, along with reports for Standard Life and ReAssure , it is one of three statements from the Chair of all three – David Hare. As … Continue reading →

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Fidelity’s IGC – focussing on what matters to pension savers

Posted on October 8, 2022 by henry tapper

  Tone and style I’ve waited a long time to say it , but Fidelity’s 2021/2 IGC report is a corker. I thought it would be even before I read it when I saw what the IGCs priorities were for … Continue reading →

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Standard Life’s IGC report – too long , too angry and wrong!

Posted on October 8, 2022 by henry tapper

Standard Life has produced a bumper 162 age IGC report – a kind of shock and awe statement from David Hare – which is issues together with IGC reports for other Phoenix insurers – Phoenix  and ReAssure. They get 100 … Continue reading →

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Royal London’s IGC – dour, impenetrable but effective

Posted on October 7, 2022 by henry tapper

  Royal London’s IGC report for 2021 is a rather dour affair, in contrast to others. Its sombre colour scheme is complimented by a formal style of delivery with an emphasis on good governance rather than member engagement. Even the … Continue reading →

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Aviva’s IGC Statement’s fierce battle to stay relevant.

Posted on October 5, 2022 by henry tapper

A report whose relevance is challenged Aviva published its 2022 IGC report in September. As the picture says, it deals with the performance of Aviva’s pension savings products to the end of 2021 but does not cover the impact of … Continue reading →

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IGC reports? Please send send them to me!

Posted on September 26, 2022 by henry tapper

  Each year I report on the activities of Independent Governance Committees and their little sisters the Governance Advisory Arrangements. IGCs and GAAs are in place to keep  the providers of contract based pension saving schemes honest. They are well … Continue reading →

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