L&G launches 'trustee-style' committee for contract pensions

The Independent Governance Oversight committee (IGO) will bridge the perceived gap between governance in trust-based arrangements and contract schemes, L&G Trustees chairman Paul Trickett said. Trickett, who recently joined L&G master trust's governance board, will also chair the IGO, alongside three L&G executives and PTL director Steve Carrodus as an independent representative. The committee's primary focus will be ensuring the quality of defaults is maintained, or improved where necessary, in contract arrangements. Where there are existing employer governance boards the IGO will...