Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, whether she has plans to submit a formal response to the consultation undertaken by the Financial Conduct Authority on changes to rules governing the operation of Independent Governance Committees in Quarter 1 2019.

We welcome the Financial Conduct Authority’s commitment to consult on the changes to IGC rules. It is important that independent regulators regularly review their rules, consulting where appropriate, to determine whether they need to be changed.

Government departments do not respond to FCA consultations – however, we regularly engage with the FCA on many issues relating to pensions, to ensure a coherent regulatory approach across contract based and occupational schemes. This includes engagement on issues relating to pension scheme governance and investment policies.