Deloitte comments on proposed rules for Independent Governance Committees
6 August 2014
Commenting on the Financial Conduct Authority’s proposed rules for Independent Governance Committees (IGCs), Andrew Power, financial services consulting partner at Deloitte, said:
“The FCA’s proposals will strengthen the governance of workplace personal pension schemes by clearly tasking IGCs to act in the interests of policyholders.
“The proposed new requirements for IGCs are particularly important in light of automatic enrolment, where employees become contributing personal pension policyholders without having actively chosen to do so.
“In order to fulfil their responsibilities it will be vital for IGCs to have access to high quality, consistent, understandable management information without imposing an unnecessary burden on pensions providers.”
Notes to editors
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