Independent Governance Committee

Pensions Insight’s IGC of the Year, October 2016.

Award-winning governance for your workplace scheme

To  make sure we deliver value for money to your scheme members and place their interests first, we are required by law to operate an Independent Governance Committee (IGC).

Aegon UK’s Independent Governance Committee (IGC) was set up in April 2015. It acts as a customer advocate, completely independent of Aegon UK. It has the power to challenge any aspect of our offering and make recommendations to the Aegon UK Board of Directors on how our service could be improved. 

The IGC publishes an in-depth report every year assessing  our success in meeting certain ‘value for money’ principles for members.

Members of the IGC

To deliver the highest standards of oversight and constructive guidance, our IGC combines a ranges of skills and experience. This includes legal, pension scheme governance, actuarial and customer service expertise from its independent members and insight into Aegon UK’s business model and its customers from the Aegon UK IGC representatives.

You can read profiles of the current members of the Aegon UK Independent Governance Committee here. 

Pensions Insight recognition

In 2016, we were honoured that Pensions Insight gave its inaugural ‘Best Independent Governance Committee’ award to the Aegon IGC. The judges commented that the Aegon UK IGC 2016 annual report was:

“head and shoulders above the other IGCs. It had a thorough and well thought framework for assessing value for money and demonstrated a number of examples where it had challenged the provider in terms of charges and delivery timescales. Its report was easy to read, with plenty of pictures and diagrams to maintain interest and written in plain language.”

We aim to continue to work closely with the Aegon UK IGC to make sure we offer the highest level of service and provide potential for the best possible retirement outcomes for every member.