Client feedback


​Their pragmatic approach helps with quick and easy decision making. Another approach might have made things more difficult.
Mark Assinder,
Bouygues
These days, Boards need real expertise on tap (with excellent back-up) to cope with a constantly evolving and more regulated environment. PSGS is geared to delivering that.
Ray Pygott,
Partner at KPMG LLP
​They are very proactive and full of new ideas, they've brought better scheduling and better minute sets.
Paul Rudd,
Express Newspapers
I wanted to look at the effectiveness of our trustee board, so Gillian, our PSGS scheme secretary, provided their trustee self-assessment tool to help me gather thoughts and opinions from others on the board. The tool was extremely easy to use and asked all the right questions to help me collect the information I needed as Trustee Chair. It is a great example of the way PSGS shares knowledge with their clients and makes dealing with key governance issues easy. As well as enabling me to meet one of the Regulator’s 21st century trusteeship requirements, using the tool has flagged trustee training needs and ways we could improve trustee meetings further.
Claire Silvester,
Vector Aerospace
Ever increasing regulation has placed a heavy burden on trustees both in terms of time and the risk of non-compliance. PSGS has the experience and the resources to help trustees manage these burdens.
Mark Atkinson,
Partner at CMS Cameron McKenna
We now have a very collaborative approach between trustees and employer.
Peter Millard,
Company Secretary, TRL Limited
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 (or when the pension scheme sponsor is in distress) 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 independent 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

PSGS blog

Dealing with distress - part two: radical surgery

Wind up/buy out

Are you really sure…? Learning lessons from PPF cases

Hot topic

Case study: PPF+ buyout

Dealing with distress - part three

PPF assessment & PPF+ buy out

Exit management & de-risking

Achieving financial certainty in closing pension schemes


Call: 0845 313 0024

online enquiry