BlackRock has appointed an Independent Governance Committee (‘IGC’) to oversee contract-based workplace pension schemes for UK clients.
The new Committee consists of Chairman, Allan Whalley, an independent trustee, Colin Richardson of Pitmans Trustees Ltd, and Claire Altman of Capital Cranfield Trustees Ltd. The IGC also includes senior BlackRock figures, Paul Bucksey, head of the firm’s UK DC business, and Mark Allen, CEO of BlackRock Life Limited.
The Committee has already held its first meeting, ensuring new FCA rules for workplace pension schemes are met before the effective date of 6 April 2015. It is focused on ensuring the delivery of good customer outcomes and assessing the ongoing value for money of all contract-based defined contribution workplace pension schemes issued by BlackRock Life Limited.