We've announced a new chair for our IGC – the body that oversees Aviva’s contract-based workplace pension schemes on behalf of members.
Colin Richardson, PTL Governance Limited, takes over from Inder Dhingra as Chair of the IGC. Colin is also Chair of Aviva Master Trust and was named Professional DC Trustee of the Year 2017 at the Pensions Insight DC Awards in 2017. As a result of Colin’s appointment, Steve Carrodus, also from PTL Governance Limited, will be stepping down from the IGC.
In other changes to Aviva’s IGC, Gurmukh Hayre and Ian Baines are joining as new independent members.
Gurmukh is former Head of Defined Contribution (DC) pensions at KPMG and his in depth knowledge of the current market means his appointment will further boost the IGC’s DC expertise.
Ian Baines is Head of Pensions at Nationwide and has many years experience in the workplace pension market with exposure to the needs of a wide range of employees. Aviva provides Nationwide with its workplace pension so his appointment means the IGC now has member representation.
Marcia Campbell and Robert Talbut will remain as independent members of Aviva’s IGC.
Colin Williams, MD of Workplace Benefits at Aviva, will be stepping down. This will help to create a fully independent IGC.
Stuart Gash, Pension Governance Manager at Aviva said:
“The changes we are making to Aviva’s IGC will further strengthen the level of oversight on our contract-based workplace pensions. All of the new members bring significant knowledge of the DC market, and with Ian’s passion for member engagement and communications, members and employers should have confidence that the IGC will continue to ensure Aviva is focused on delivering value for money.
“With Robert’s investment knowledge, and Marcia’s experience of customer service, all areas of the IGC’s value for money framework will be represented.
“Colin has been doing a fantastic job at leading the trustee board who oversee Aviva Master Trust. Having him head up the IGC will allow greater continuity and ensure that all members continue to be treated fairly.
”I would like to extend my personal thanks to Inder and Steve for their dedication and enthusiasm in their roles on the committee. Their work has led to improved outcomes for a large number of customers, and I wish them both the very best in their future commitments.”
Colin Richardson, Chair of the Aviva IGC and Aviva Master Trust, said:
I’m excited to be appointed Chair of Aviva’s IGC.
With the help of the new and existing members of the IGC, and with the cooperation Aviva has already demonstrated, we can deliver some great outcomes for members.
* Master trusts: a trust-based pension is traditionally a type of pension set up by an employer for their employees. However, master trust pensions are set up by pension providers with a trustee and board to govern the scheme. Employers who choose to set up a master trust scheme are given the benefit of having a governance function, but they're generally less complex and have far lower running costs than a traditional trust-based scheme.
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Notes to editors:
- Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers.
- In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.
- Aviva’s asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over £331 billion in assets (as at 31 December 2018). Total group assets under management at the Aviva group are £470 billion (as at 31 December 2018).
- Aviva helps people save for the future and manage the risks of everyday life; in 2017, we paid out 98% of all our claims across all our markets and insurance products. We paid £34.6 billion in benefits and claims in 2017.
- By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.
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