The reports, undertaken by the PTL Governance Advisory Arrangement (GAA) launched in April 2015, are due before 6 April 2016 and the first assessment of Aon Employee Benefits’ Bigblue Touch has just been announced, with a further 12 to follow.
Colin Richardson, Chair of the PTL GAA, commented: “The idea of ‘value for money’ is highly subjective and can mean different things to different people, depending on what they consider important at any one time. What is clear is that an independent assessment incorporating all costs and benefits is required to provide guidance and we are, therefore, proud to be by far the biggest provider of these reports in the marketplace.
“The GAA’s role is to act solely in the interest of the relevant policyholders of the plans and to assess the ‘value for money’ delivered by the policies, following the new rules set out by the Financial Conduct Authority (FCA) in February 2015. In establishing our GAA, PTL have set up a framework that analyses the provider across a variety of features and demonstrates our commitment to helping provider policies to deliver positive member outcomes.”
|
