11 February 2020
PTL, the leading independent trustee and governance services provider, today announced that its market-leading Governance Advisory Arrangement (GAA) is already accepting clients offering investment pathway solutions for non-advised pension drawdown.
Keith Lewis, Client Director and Chair of the PTL GAA, commented: “All providers planning to offer non-advised drawdown must have an IGC or GAA in place by 6 April 2020, to allow the committee to assess the design of pathway solutions before they are offered to consumers. There is much for providers to do before investment pathways come into force, within very tight deadlines.
“We have updated our methodology and terms of reference to reflect the extended remit over investment pathways, and also the need to assess ESG (environmental, social and governance) factors. We’re ready to work with all providers of non-advised drawdown as they finalise the design of their investment pathways.”
PTL’s market leading GAA is the largest GAA in operation (as confirmed by the FCA). The extension of the GAA’s remit follows two FCA mandates that providers of drawdown solutions to non-advised customers create four investment pathways, and that the value for money of these pathways is assessed by an Independent Governance Committee (IGC) or GAA.
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