The Pension Protection Fund (PPF) has appointed Quantum Advisory to its Specialist Administration and Actuarial Services Panel (SAASP).

Quantum Advisory joins Broadstone Pensions, Barnett Waddingham and Spence & Partners, who have been on the panel since it was launched in 2016.

The PPF launched a tender to appoint a specialist firm to its SAASP in April, stating that the panel provides critical assistance to the PPF and to schemes when they enter PPF assessment.

The SAASP helps enable the pension lifeboat to accurately determine whether a scheme has sufficient assets to buyout benefits with an insurer or if it will need to transfer into the PPF.

Firms on the panel work with trustees and other PPF panel advisers to process schemes through PPF assessment.

Commenting on Quantum Advisory’s appointment, PPF panel relationship manager, Dan Collins, said the lifeboat had been impressed with the firm’s high level of experience, knowledge and core values, and felt confident that it would work well with the other panellists, share ideas and improve processes for the betterment of scheme members.

“Since we launched the SAASP, we’ve not only been able to improve our services to trustees and other PPF panel advisers, but we’ve been able to speed up our assessment of schemes after their employer has failed,” he stated.

“Our aim throughout this period is always to identify the best possible outcome for scheme members and to provide them with clarity around their financial futures as quickly as we can.”

Quantum Advisory partner, Joanne Eynon, added: “Employer insolvency can be a very unsettling time for scheme members and it’s extremely important that we work with the PPF and other panel firms as quickly and as efficiently as possible during the assessment period so there can be some certainty for members on the benefits they will receive.

“This panel is central in providing the tools to allow schemes to navigate this complex situation carefully and we are very pleased to be a part of it going forward.

“This was a very competitive selection process, and it is testament to the dedication and expertise of our team that we have been selected. We are looking forward to working and sharing ideas with industry peers as the fourth firm on the SAASP.”

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