Independent trustee firm, Dalriada Trustees Limited, has been appointed to a new Pension Protection Fund (PPF) panel, designed to provide greater certainty for members during the assessment and winding up process of a pension scheme.
Dalriada is one of four firms named on the new Trustee Advisory Panel, which is being set up to push schemes through the PPF assessment and Financial Assistance Scheme (FAS) wind-up more efficiently. As well as being a positive development for scheme members, it is also expected to benefit levy payers by reducing costs and ensuring a more prompt transfer of scheme assets.
The creation of this new panel follows the successful implementation of the Actuarial Valuation Panel and the Specialist Administration Services Panel, set up over the last two years.
Dalriada Director, Connie Johnstone, Head of Scheme Terminations said: “For us, this is an endorsement of the commitment we have made to this area of work over many years. The PPF really makes a difference for members of distressed pension schemes and we are proud to play an ever greater role by its side”.
Dalriada has been part of a small pilot for this Panel since early 2012 and even before then had years of experience supporting both lay and professional trustees through the PPF and FAS process, as well as acting as trustee to such schemes in it own right so is well placed to hit the ground running from the formal launch of the Panel on 2 September.
Dalriada CEO Brian Spence said: “We are delighted with this appointment which recognises the close relationship we have nurtured with the PPF and FAS through our commitment and high standards of work. The appointment also underlines Dalriada’s excellent reputation within the UK pensions sector and gives us a fantastic platform to continue to grow the business.”
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