Mercer has been appointed to form part of the Pension Protection Fund (PPF) Specialist Administration Services Panel.
The panel will take responsibility for administration services for all schemes entering the PPF. Eight companies have been selected to make up the panel.
The Pension Protection Fund was set up to pay compensation to members of eligible defined benefit and hybrid pension schemes when there has been a qualifying insolvency event in relation to the employer and where funds are not available in the scheme to cover compensation.
Neil Bolding, head of scheme discontinuance at Mercer’s Outsourcing Business, said: “We look forward to working with both the PFF and our partners in helping reduce the length of time schemes are in assessment, and to provide member security and comfort much sooner.”
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