PwC has joined forces with investment consultancy Redington to provide a new integrated service for pension fund trustees and sponsors.

This is intended to provide independent advice on managing pensions risk, improving funding levels and eliminating deficits.

The strategic alliance seeks to harness Redington’s investment advisory business alongside PwC’s multi-disciplinary pensions practice.

Redington will seek to add value to the asset side of the equation by helping to drive returns, improve funding levels and reduce downside risk.

PwC will apply its expertise in reducing and financing deficits, and modernising pension plan design and member options, as well as asset liability strategy.

The two companies said that, as concerns over conflicts of interest in the investment consultancy process continued to intensify, they believed an end-to-end independent advisory proposition was imperative.

Robert Gardner, co-chief executive officer at Redington, said: “We are committed to help clients repair their deficits and protect their funding levels. 

“An integrated solution, leveraging the breadth, depth and skills of both firms, is the best way to tackle the needs of our clients.”