Client feedback

“Very responsive to any queries we have and proactive in managing our scheme to the best. Very happy with the support we are getting.”

Caroline Rand ,

Historic Royal Palaces

“Appointing Kevin as KBC professional trustee was one of the best decisions the bank took. He complements the other two trustees and also appreciates the position of the employer too. The experience a professional trustee adds is invaluable and they can share their knowledge and market practice within the KBC plan. Kevin manages the budget in consultation with the bank, fully debriefs all parties and maintains a constant dialogue with myself (as HR Manager) and trustees. Since we have worked together for a number of years, Kevin also appreciates some of the limitations we face ie budgets, and always comes up with a proactive approach and solution. His input is particularly valued by the bank trustee who is an actuary in our pensions department in Belgium Head Office. ”

Sharron King,

KBC Bank

“Provided insight into what other schemes do - useful intelligence. High quality.”

Thomas Mercier ,

Invensys

“I find Colin proactive rather than reactive. He is also supportive.”

“Gillian has gone above and beyond what we would normally expect of our secretarial support on many occasions and her deep knowledge on all issues have been invaluable.”

Sean Hoyle ,

Wightlink

“I enjoy working with PSGS and we have a very positive relationship. I was new to pensions and found them very helpful.”

Bruce Allison,

RTUK

PSGS appointed to Pension Protection Fund Trustee & Support Services Panel

Topic:

PSGS news

Date published:

Tuesday, 19 May 2020

The Pension Protection Fund (PPF)’s recent announcement about its Trustee & Support Services Panel confirmed Punter Southall Governance Services (PSGS) will continue to provide professional trustee services and assessment period work. PSGS has also been appointed to the new restructuring and pre-insolvency services panel.

This new panel has been created to assist defined benefit (DB) pension scheme sponsors facing stress or distress and their schemes’ trustee boards. From experience, PSGS has seen the value of early intervention in helping save both a pension scheme and its sponsor where possible and, where not, helping maximise member benefits and minimise the likelihood of the pension scheme entering the PPF.

Chris Hayes, Director responsible for PSGS’ PPF services, commented:

“The tender process for the PPF’s Trustee & Support Services Panel started for us in October 2019 with the contract awarded just before the Covid-19 pandemic hit. Last autumn, none of us realised just how important the new restructuring and pre-insolvency services could become to quite so many firms.

The best outcome for members can be achieved if the pension trustees: take action; understand the options available and what advice is required; and appoint advisers with the experience, expertise and resources to provide the best advice in generally a short timescale. Many trustee boards don’t have the market knowledge and experience PSGS has and may either simply rely on existing advisers or put their heads in the sand and don’t take appropriate advice due to the extra expense.

Over the 15 years of working with the PPF, we’ve together captured ideas and issues and shared them with other firms within the PPF universe to help adapt what we do and drive improvement.”

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