Following the insolvency of an employer, a pension scheme enters a period of assessment for acceptance into the Pension Protection Fund (PPF). On appointment by TPR as an independent trustee, it is Capital Cranfield’s role to efficiently manage these schemes through the assessment period.

When an employer becomes insolvent, it is the responsibility of The Pensions Regulator (TPR) to ensure that its occupational pension scheme has at least one independent trustee. If this is not the case, TPR is tasked with appointing one from its ‘Trustees Public Register’. This register consists of independent trustees which specialise in insolvency and the closure of occupational pension schemes. As an independent trustee with extensive experience in these areas, Capital Cranfield has been accepted on to this register.

If the appointment of an independent trustee is necessary, TPR will send out tendering enquiries to a number of the registered trustees. TPR will select the most suitable trustee based on the responses it receives and its assessment of factors such as relevant costs and experience. The selected trustee will then be appointed, taking on the responsibility for managing the scheme throughout its period of assessment.