The Pension Protection Fund (PPF) has announced the procurement of nine specialist firms to a new framework agreement that will provide services to its board.

The selection follows a three-month procurement period, during which the firms were required to submit their bids.

The selected firms will be given tasks such as collection and analysis of data, administration, actuarial and payroll functions, actuarial advice, specialist projects support and consultancy support and services.

Depending on the nature of their work, the selected firms have been appointed to either Lot 1, Lot 2 or both.

Broadstone Corporate Benefits Limited are in Lot 1, which is primarily for services to the board where administration and actuarial services, and pensions consultancy, may be required at the same time.

Lot 2, which features Government’s Actuary Department and Hymans Robertson, is aimed at firms with specialist actuarial capabilities who have experience in either the pensions or insurance industries.

These firms will provide broader but more specified actuarial consultancy services, as part of a pool of suppliers capable of delivering any specific call-off contract we award.

The firms in both Lot 1 and Lot 2 are Barnett Waddingham, Deloitte, Mercer, XPS Pensions Consulting, Quattro and Spence & Partners.

Commenting on the appointments, the PPF said: “The companies will be required to perform all services in line with PPF standards of professionalism and PPF’s ICARE values. The work is expected to be ‘right first time’ to the board’s satisfaction and in accordance with the framework agreement and call-off contract.”

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