On the go: The Pension Protection Fund has appointed Hymans Robertson, LCP, Barnett Waddingham and PwC to provide transaction advice to schemes in assessment that are overfunded on a PPF basis.
Last year, the lifeboat fund announced a search process for four advisers to assist with PPF+ schemes — defined benefit plans that entered the pensions lifeboat assessment period with sufficient assets to buy out benefits for its members over and above the amount the PPF pays.
The PPF+ Advisory Panel will support these schemes with services including transaction advice, scheme actuarial and investment support.
When the tender was launched, the PPF said that the advisers would be appointed on an initial two-year contract, with an option for two further 12-month extensions.
Rising bond yields have pushed up scheme surpluses of late. In December, the aggregate surplus of the 5,215 DB schemes in the PPF’s 7800 Index increased by £47.9bn.
Separately, the PPF announced that it had added CMS and Addleshaw Goddard to its legal panel.
The two companies will sit alongside Gowling WLG, Herbert Smith Freehills, Hogan Lovells and Osborne Clarke on the panel.
Gowling WLG, Osborne Clarke and CMS have also been picked to provide specialist advice to schemes in PFF assessment.
