Sections

PPF appoints three consultants for levy calculation

UK - The Pension Protection Fund has appointed Barrie and Hibbert Ltd, Moody's KMV and Credit Suisse Securities (Europe) to provide analysis for levy calculations.

"We have appointed three consultants because we want to use as much analysis as possible," PPF spokesman Rob Jones told IPE. "Those three were best fit for what we needed and the most economically advantageous." Financial terms were not disclosed.

Over the next months the companies will calculate data using credit portfolio models to assess the insolvency risk of UK businesses. This risk affects DB pension schemes and the levy that is annually paid by these schemes to the PPF.

The announcement follows the PPF's disclosure last week that it is working with insolvency data provider Dun & Bradstreet on certain aspects of its methodology.

"We need to know what the future of DB schemes is so that we can calculate the levies that we need to charge and that what this model is all about", Jones said.

The PPF intends to publish details on the calculations in late December.

In an unrelated tender the PPF is looking to find legal advisors for seven different areas which are:

- corporate transactions
- commercial contracts
- UK and EU pensions law
- bringing and defending proceedings in the courts or tribunals, alternative dispute resolution procedures
- regulation affecting the Board of the Pension Protection fund
- UK and EU employment and industrial relations
- all aspects of finance law

The PPF envisages a minimum of 10 candidates and sets a maximum at 30 for the 3-year contract. Deadline for the reception of tenders is 20 October 2006.
 

Have your say

You must sign in to make a comment