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In 2015, Standard Life founded an Independent Governance Committee (IGC) to work in the interests of its workplace personal pension scheme members. The main role of this committee is to assess the value for money provided by Standard Life Assurance Limited (SLAL) schemes.
On this page you'll be able to read the annual reports from the IGC, give your feedback and learn about committee members
The IGC is committed to the development of stronger, higher-value pension products for anyone saving for retirement. They’re also here to:
Transaction costs for Standard Life Assurance Limited funds within scope of the Independent Governance Committee (IGC).
You can download the Transaction costs spreadsheet here (650KB).
If you wish to read the summary of our previous four reports they are available below:
As of the 25 April 2019, some changes have been made to the IGC to ensure a consistent governance approach for both Standard Life workplace customers and Phoenix Life workplace customers.
The members of the IGCs have been selected in order to include:
Dr David Hare
David Hare has over 30 years of experience in the UK insurance industry. He qualified as an actuary in 1988 and has held various actuarial, marketing and financial risk management roles in a number of life insurers, including 5 years as Chief Actuary, UK & Europe at Standard Life.
Ingrid is an independent professional trustee and investment specialist with Capital Cranfield Pension Trustees Ltd, after 30 years' experience of pension fund investment including 25 years working at Hermes Investment Management for the BT Pension Scheme and other third party clients.
Sheila is an experienced independent non-executive director. Sheila left legal private practice in 2009 to pursue a management career in industry and undertake non-executive appointments. Her first assignment was with Ignis Asset Management, to work on the merger of two asset management businesses within the Phoenix Group.
Mike is an independent member of the IGC and has worked in the insurance industry with an involvement in pensions for over 40 years both with insurance companies and employee benefit advisers.
Michael joined Standard Life as a trainee actuary in 1986 and has held a number of management positions over the past 33 years, including head of product and technical consultancy.
Mike is a qualified actuary who has been with the Phoenix Group for over 25 years having originally joined Britannic Assurance. His current role is focused on strategy and planning within the life companies of the Group and supporting various projects including those related to integrating businesses acquired by the Group.
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