Our governance

The Group is governed by the Governance Manual which sets out the high level governance arrangements approved by the Boards and includes the delegation of authorities.

It sets out those powers which the Boards wish to exercise themselves (or through formally constituted committees of the Boards) and the delegation of other powers, such as the day to day management of ReAssure, to the Chief Executive Officer and the ReAssure Management Committee.

The Governance Manual articulates:

• ReAssure’s ownership, legal and regulated entity structure.
• The interface between the Boards and their subsidiaries.
• The key responsibilities of the Boards and their sub committees.
• The key responsibilities of the Chairman, Chief Executive Officer and the ReAssure Management Committee.
• The principal authorities for Board and ReAssure matters.
• The operation of the matrix management structure and interface with our shareholders.
• The oversight arrangements over key in-sourced and out-sourced activities.
• The key aspects of the internal control environment which assist the Boards and Executive Directors and Officers to govern direct and control the business.

The Board is supported by committees which include:

• Audit Committee
• Risk Committee
• Board Investment Committee
• Fairness Committee
• Standing Committee
• Independent Governance Committee (IGC)

You can access the IGC Terms of Reference below. In summary, the Independent Governance Committee:

• Has a duty to assess the value for money of ReAssure workplace personal pensions on an ongoing basis.
• Review the design and execution of investment strategy.
• Consider whether costs and charges are appropriate for the scheme and its investments.
• Ensure appropriate assessment of the quality of service and governance standards
• Raise and escalate any concerns to the Board of ReAssure in the first instance, and ultimately our regulator, the Financial Conduct Authority (FCA), if the IGC feel ReAssure have not responded to a particular concern.

Our IGC members have been carefully selected to ensure they have the appropriate skills, knowledge and experience in relation to Workplace Personal Pensions to be able to execute their duties.

The IGC represents scheme members interests and scheme members can contact the IGC to share their views directly. If you have any individual servicing queries or complaints you should raise these in the normal ways. Each year an Annual Report will be published on this page that will explain the work of the IGC over the previous twelve months.