Independent Governance Group (IGG) has launched a digital pensions platform, IGGiQ, to offer real-time insights for both trustees and sponsors to help facilitate more effective and better informed dialogue with advisers and investment managers.
The platform provides a ‘one-stop-shop’ overview across key scheme metrics with data sourced directly from a scheme’s holdings and enhanced by insights provided by partners such as Impact Cubed. This is expected to improve trustee decision-making and transparency.
IGGiQ enables users to understand and interrogate the reasons behind any change in scheme funding levels. The platform also provides financial risk analysis, maintains a historical record of scheme data and monitors ongoing performance against risks such as ESG.
IGG has partnered with Impact Cubed to create the first of “many modules” for IGGiQ, the firm has announced.
The module is said to help trustees and investment managers better understand and integrate ESG factors such as biodiversity and climate alignment into their strategy, further enhancing long-term outcomes for beneficiaries, while ensuring transparency for all stakeholders.
IGG said that with over £10bn (€11.9bn) of pension funds already using the ESG Insight module, IGGiQ helps ensure IGG continues to sit at the forefront of promoting responsible and sustainable investing.
Vikram Chatrath, trustee director and head of funding solutions and analytics at IGG, said that the launch of the platform shows the firm’s commitment to helping champion the availability and accessibility of data for the pensions sector.
He said: “Our goal through the development of IGGiQ is to derive greater value by consolidating data centrally, eliminating gatekeeping, and enabling AI-driven self-service for trustees and the schemes they oversee.”
Chatrath added that this initiative is the first in a series of developments aimed at enhancing transparency, which will improve decision-making and stakeholder engagement.
Andrew Bradshaw, IGG’s chief executive officer, added that as the liability-driven investment (LDI) crisis of 2022 demonstrated, UK trustees need to have real-time information at their fingertips in order to make informed decisions.
“IGGiQ is one of the first innovations within the pensions industry to provide schemes with such comprehensive detail. IGG is committed to digitising the pensions industry to help improve governance and member outcomes,” he noted.
Jennie Baruxakis, head of asset owner relations at Impact Cubed, urged that as the demand for sustainable investments grows among plan members, it is crucial for schemes to have comprehensive and accessible insights.
She said: “We’re excited to contribute to this innovative platform, offering precise and actionable ESG data that goes beyond mere ratings.
“Our partnership with IGGiQ empowers schemes to make informed decisions, aligning investments with sustainability goals and enhancing overall transparency.”
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