Royal London has written to over 800,000 of its members to invite them to apply to become a member of its Independent Governance Committee (IGC).
The IGC’s role is to assess the ongoing value for money offered by Royal London’s workplace pensions.
In line with current regulations, the committee already has a majority of independent members but the IGC and Royal London agree that the work of the committee would be further strengthened by an additional committee member, and are particularly interested in applications from customers to provide wider customer insight.
Royal London IGC says it understands it will be the first business to seek applications from its customers.
The mailing to members said: “We are looking to appoint an additional committee member to our Independent Governance Committee and would like to hear from any Royal London customers that might be interested in applying for the role. As a business owned by our members, and with the views of customers a key part of this Committee’s responsibilities, we are particularly keen to hear from any workplace pension customers, as well as those with other relevant experience for the role.”
Phil Green, independent chair of the Royal London IGC, said: “I believe that the IGC has achieved a lot in its first year, working with the business to ensure Royal London continues to offer value for money to existing and future workplace pension customers. We now want to build on this work and in particular to strengthen further the Voice of the Customer in the IGC’s work. One such initiative is to seek to appoint an additional member to the IGC who is able to strengthen this particular perspective”.
Steve Webb, director of policy at Royal London, added: “The IGC has already brought a fresh pair of eyes to the work of Royal London. As a mutual we are owned by our members and their perspective is vital to all that we do. We are delighted to support the IGC in its plan to expand its membership and we would encourage our members to consider applying to take on this role.”