In the event of our appointment by The Pensions Regulator (TPR), we put together a dedicated Trustee Support Team to manage the scheme during the PPF period of assessment. This team will call on years of experience of DB and DC wind-ups in order to manage the scheme through this period, covering areas such as paying benefits, tracing members and recalculating entitlements in accordance with PPF compensation levels.

As the appointed independent trustee, another key part of our role is to assist the PPF caseworker with the creation and implementation of a project plan for the scheme. Our expertise and experience in the area of insolvency enables us to do this extremely effectively, thereby helping to reduce the amount of time a scheme remains under assessment.

Once the period of assessment is over, it will be established whether a scheme has insufficient assets to meet PPF level liabilities, and is therefore eligible to enter into the PPF compensation scheme. In preparation for this point, we take very seriously our responsibility to prepare and present a clean and comprehensible set of records to the PPF – a task made simpler by our extensive experience in winding-up schemes.