It is very important to Phoenix that members of its workplace pension schemes receive value for money. In April 2015 Phoenix set up an Independent Governance Committee (IGC) that is independent of Phoenix and exists solely to act in the interests of members of Phoenix workplace pension schemes to ensure they receive value for money.

The IGC will raise with Phoenix any concerns it might have on any aspect of what it’s delivering for those members. If it feels that any concerns raised have not been appropriately addressed the IGC can take them to the regulator (the Financial Conduct Authority).

When assessing value for money the IGC looks at:

  • customer feedback;
  • customer service and communications;
  • charges and other costs;
  • investment performance; and
  • retirement options.

The IGC published its first annual report in March 2016. It is written for members and describes improvements made to Phoenix workplace pension schemes and the IGC's plans for the next year. To read the report please click here: Phoenix IGC Annual Report

The IGC is governed by its Terms of Reference document, which sets out the role of the Committee, a copy of which can be found here: IGC Terms of Reference

The IGC is keen to hear what value for money means to members of Phoenix workplace pension schemes and about any concerns they may have with their Phoenix pension. Please get in touch with us at email address: IGC@thephoenixgroup.com

Message from the Chair

I am delighted to be chairing the Phoenix IGC and working with such a committed and experienced group of people on the IGC. We are keen to hear from members of the Phoenix workplace pension schemes so that our assessment of the value for money they are receiving can take into account their views and what is particularly important to them. We are here solely for their benefit.