PPF assessment
As members of the Pension Protection Fund (PPF) Trustee and Support Services Panel, we can help your pension scheme both before and after an employer insolvency event. If your scheme enters PPF assessment, we’ll guide it through the process smoothly.
Meet our PPF & PPF+ specialists
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 stressful time for members.
PPF+
Not all pension schemes that enter a PPF assessment period are ultimately taken on by the PPF. Where the scheme’s funding level can provide members with a higher level of benefits than they’d receive if the scheme entered the PPF, we achieve that improved outcome for secure members’ benefits by securing benefitsvia a buy out with an insurer or, alternatively, looking to make use of the range of other options available, such as DB consolidation .
Case studies
Working quickly to understand true buyout position
This case study looks at how, as pension trustee, we found we could advanced this pension scheme towards buy out much more quickly than originally anticipated. Having locked down investment risk and agreed reduced contributions from the pension scheme sponsor, we’re now moving towards a full insurance broking exercise. Sharing this ‘quick test’ approach across the Vidett team has enabled other pension trustee boards to check whether their funding position is stronger than they thought.
PPF case: a lack of governance and poor internal controls
Appointment as a pension trustee to a pension scheme going through Pension Protection Fund (PPF) assessment could rarely be described as straightforward.
Packaging small/medium schemes to achieve competitive buy out terms
The extremely busy buy out market has made it very difficult to get quotes. This case study looks at how our idea to package 3 schemes together brought an insurer to the table who wouldn’t have quoted if they’d been approached for a PPF+ buyout for each scheme separately.
To find out more about the support Vidett can give when a pension scheme sponsor is undergoing a corporate transaction, M&A or refinancing, speak to one of the team by contacting us.
