Royal London publishes Independent Governance Committee Annual Report

On Wednesday 27 September the Royal London Independent Governance Committee ("IGC") published its annual report for 2022.

The IGC independently assesses the ongoing value for money that Royal London, the UK’s largest life, pensions and investment mutual, provides to its Workplace Pension and Investment Pathway customers, as well as assessing Royal London’s Environmental, Social and Governance (ESG) policies.

The IGC assesses Royal London using its Value for Money principles, which focus on three areas; costs and charges, investment performance, and customer service. The report for 2022 finds value is being provided to Workplace Pension and Investment Pathway customers, whilst also identifying areas for focus in 2023.

Peter Dorward, Chair of the Royal London Independent Governance Committee comments:

"This is our eighth annual report assessing the ongoing value for money provided by Royal London to workplace customers, and our second reporting on investment pathways. We are pleased to report that overall, value for money is being provided to customers, while noting progress improving value for small groups of customers where it has been identified that better value could be achieved.

"In our 2023 report we expect to focus on areas including the cost of living crisis, advice and guidance, cyber security and assessing progress on the value improvement projects Royal London has initiated for certain longstanding customers."