Welcome to our annual report
The IGC’s role is to ensure the money in your pension is safe and being well managed and we work with Legal & General to ensure your pension offers good value for money. Here's our annual report for 2022.
We are pleased to report that our view is that members continue to receive good value for money, rising to excellent in some areas.
Joanne Segars
Independent Chair of the IGC
Our assessment covers the period from 1 January 2022 to 31 December 2022:
We also publish the costs and charges that apply to your pension funds and projections that explain the effect of these charges on your pension pot over time:
Charges, costs, illustrations and performance
A summary of our assessment
Value for money category
We consider:
Our assessment of the value you receive is
The suitability of the fund you are invested in if you haven’t chosen your own fund, and the range of funds available if you want to make your own fund choice.
Acceptable, with areas for improvement
The wider choice of investment funds available if you want to make your own investment decisions and their performance. This section excludes default strategies.
Good
All transactional aspects of your pension’s administration, for example, setting up contributions, or the payment of your pension benefits.
Good
That the costs and charges for your pension remain competitive and offer good value for money.
Excellent
That you receive clear, high-quality communications and have a range of tools available to help with your retirement planning.
Good
The choice you have in how you take your pension benefits and that you have the right tools to support you in making informed decisions.
Good
Responsible investing and how this affects the way your pension is invested.
Excellent
If the right investment choices are in place for members.
Good
Feedback
The IGC welcomes questions or feedback from members. If you have any questions, or would like to share feedback, please contact us. Your message will come straight through to the IGC members.