UK - The Pension Protection Fund (PPF) has appointed credit specialists D&B to measure the insolvency risk of employers who sponsor eligible defined benefit pension schemes.
The PPF Board said D&B would be measuring insolvency risk as part of the calculation of each schemes’ pension protection levy, which is due to apply from 2006.
Commenting on the appointment, PPF director of investment and finance, Partha Dasgupta, said: “Insolvency risk will be one of the key factors that will be taken into account when setting the risk based levy from 2006. D&B’s scoring methodology is already viewed as credible by industry, and complements our own core principles of fairness, simplicity and proportionality.”
Peter Livesley, D&B’s global customer manager, added: “We believe D&B’s credibility and expertise will help build confidence and assit the Pension Protection Fund in achieving their overall objectives.”
D&B have been appointed for two years, with an option to extend for two further years.
The appointment follows a competitive tendering exercise.
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