FCA consultation on proposed rules for independent governance committees – an NAPF response
The NAPF has published its response to the Financial Conduct Authority’s (FCA) consultation ‘Proposed rules for independent governance committees’, submitted to the FCA on 10 October 2014.
The NAPF supports the Government’s and FCA’s focus on better governance in contract-based schemes. IGCs represent a big step forward in ensuring that savers interests are represented. While NAPF members believe that IGCs should play a wide role in representing the interests of all members of contract based schemes, they have expressed concerns about the extent to which IGCs will be able to exert influence over pension providers.