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Regulation & Legislation

Independent Governance Committee

We are committed to helping our customers get the best possible outcomes at retirement and support the Financial Conduct Authority’s (FCA) introduction of Independent Governance Committees (IGCs) in 2015.


The IGC is a body of experts who maintain a direct relationship with the FCA. They hold product providers to account on behalf of those saving in a workplace personal pension scheme.

A majority of IGC members and the Chair must be independent and the committee should consist of a minimum of five members.

The members are:

  • Babloo Ramamurthy (chair)
  • Tilly Ross
  • Mark Stewart
  • John Howard
  • Jackie Leiper
  • Iain McGowan


The committee’s objectives are to;

  • act in members’ interests by assessing and reporting on the value for money delivered by Scottish Widows Group Personal Pensions and Group Stakeholder Pensions
  • publish an annual report setting out the assessment of the value for money delivered by Scottish Widows
  • identify areas for improvement and make recommendations to the Scottish Widows Board
  • escalate any concerns to the FCA, and bring them to the attention of customers, in the event that Scottish Widows fails to address these concerns appropriately.

You’ll find more information about our IGC, including the members of the committee, in the documents below.


If you have any comments, questions or concerns in relation to the work of the Scottish Widows IGC, please send us an e-mail.

For employer use only.