Client feedback


Very professional and engaged service.
Danny Nussbaum,
HR Director, Volvo
​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
They deliver above expectation when the scheme has a particular challenge.
Ian Edwards,
Comet
Where PSGS are appointed to act in conjunction with an existing body of trustees, we have found that they are quickly able to fit in well and gain the trust and respect of their co-trustees.
Duncan Buchanan,
Partner at Hogan Lovells
PSGS offered the right support at very short notice, at reasonable cost, when we really needed it
Ian Edwards,
Chair of Trustee, Comet Pension Scheme
When requesting information by email, I have noticed that there is 'out of hours activity' to answer me. I regard this as a stand out 'above and beyond' - impressed.
image for PPF assessment  | Pension Protection Fund | Trustee Panellist

PPF assessment

As members of the Pension Protection Fund (PPF) Trustee Advisory Panel, we can help guide your pension scheme through this period smoothly.

The PPF looks to bring in a Trustee Panellist on all underfunded cases to more efficiently project manage pension schemes that are in PPF assessment. For members, continuity is important. If we were appointed at this stage and the scheme later entered the PPF, there would be no need to change trustee again at what can be a particularly scary time for members.

Case study

Client: pottery manufacturer pension scheme with over £200 million in assets and 7,000 members

Objective: manage a large pension scheme through the PPF (Pension Protection Fund) assessment process after a well-known pottery group’s insolvency

What we did: we conducted a comprehensive assessment of the scheme, including:

  • data and benefit audits
  • GMP (Guaranteed Minimum Pension) reconciliation of over 10,500 records
  • discharge and wind up of a large defined contribution (DC) section

The result: happily, our work resulted in the pension scheme being successfully transferred into the PPF

We have been acting as professional trustee to pension schemes in PPF assessment since the PPF was established in 2005. Our specialist PPF team have nearly 60 years’ PPF experience between them and have managed several high profile schemes through assessment to transfer. We have dealt with PPF schemes from £500,000 to £370m, including Wedgwood, Royal Doulton, Robert Horne & Howard Smith and Hoover.

Case study

Client: European bank

Issue: the pension scheme sponsor was effectively insolvent after the transfer of its assets to another bank (during the Euro crisis) - transfer to the PPF would be the best outcome for the scheme’s members, but the sponsor was not a UK company

What we did: we successfully helped the scheme enter the PPF under s129 Pensions Act 2004 (as applicable to EEA Credit Institutions)

The result: the scheme has entered PPF assessment

If your pension scheme is about to enter PPF assessment or the scheme sponsor is at risk of insolvency, contact us to find out more about our specialist service.

Speak direct to our specialist in this area

Picture of Chris Hayes Director at HR Trustees

Chris Hayes

Director

Or call us on:

0845 313 0024

Our specialist PPF team

HR Trustees PPF team

Read more

Blog

Is AAF just a tick box exercise for the Pensions Regulator?

Wind up/buy out

Are you really sure…? Learning lessons from PPF cases

Hot topic

It’s like asking the Queen to direct the government over Brexit

De-risking research

Read PSGS’ de-risking survey results

Exit management & de-risking

Achieving financial certainty in closing pension schemes


Call: 0845 313 0024

online enquiry