Royal London leads the way by appointing a customer to its Independent Governance Committee
31 October 2016
Royal London is the first provider to appoint a customer to its Independent Governance Committee (IGC). The appointment of Myles Edwards, which is effective from 1 November 2016, is a market leading initiative meeting one of the Regulator’s key requirements for IGCs, to act in the interests of workplace pension customers to assess the ongoing value for money offered by workplace pensions.
Mr Edwards is a Royal London pension policyholder and brings a wealth of experience in understanding customer relationships. Mr Edwards is currently employed in a product development and marketing role at Foresters Friendly Society. Prior to this, he held an executive director position at Age UK Enterprises (an FCA regulated subsidiary of the charity) where he was responsible for building relationships with various financial services partners and their customers.
Mr Edwards’ customer service background and experience as a Royal London customer make him ideally placed to assist the Committee, and in particular, to understand customers’ expectations.
The Independent Chair of the Royal London IGC, Phil Green, said: “The IGC achieved a lot in its first year, working collaboratively with Royal London to understand the products and services that they offer to their existing and future workplace pension customers. This resulted in a number of improvements benefitting over 27,000 customers at a cost of over £15 million. However, in our second year we wanted to do more work to understand the Voice of the Customer, and we see the appointment of a Royal London customer to the Committee as a key part of this achieving this.”
Isobel Langton CEO of Royal London’s Intermediary business and board member of the Royal London IGC said: “We were impressed with the quality of applications from Royal London customers. We feel confident that Myles’ experience and expertise will ensure that the perspective of workplace pensions customers is fully represented in the future work of the IGC.”
Myles Edwards, commenting on his appointment, said: “As the largest life, pensions and investment mutual, I was very impressed that Royal London and its IGC have gone the extra mile by appointing a customer onto the Committee. This will ensure that the customer perspective is fully taken into account in assessing the value for money of workplace pensions for Royal London customers.
“I am delighted to have been appointed and look forward to using my experience and insight to ensure customers’ interests are fairly represented.”
Details of Royal London’s IGC first Report may be found online at: www.royallondon.com/IGCReport
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For further information or to arrange an interviews , please contact:
0207 506 6740
Notes to editors
A photo of Mr Myles Edwards is available on request.
Royal London invited applications from over 800,000 customers and members from April to June. Mr Edwards’ appointment was approved and made effective from 1 November 2016, after an in-depth interview process
The Royal London IGC was established in April 2015 and in line with current regulations, the Committee has a majority of independent members. The Committee members, prior to Mr Edwards appointment are:
- Phil Green, Independent Chair
- David Gulland, Independent Member
- Peter Dorward, Independent Member
- Isobel Langton, CEO, Royal London Intermediary
- Jon Macdonald, Chief Risk Officer, Royal London
About Royal London:
Royal London is the largest mutual life, pensions and Investment Company in the UK, with Group funds under management of £93.8 billion. Group businesses provide around 9.1 million policies and employ 3,106 people. (Figures quoted are as at 30 June 2016).