Smith & Williamson's pensions assurance team has been appointed to the Pension Protection Fund’s (PPF) updated Audit Services Panel.
The PPF protects millions of people throughout the UK who belong to defined benefit pension schemes. If their employers go into insolvency, and their pension schemes have insufficient assets, the PPF will pay compensation to members.
The PPF is a public corporation, set up by the Pensions Act 2004, and is run by an independent board.
The updated panel is made up of four audit firms and exists to ensure that pension schemes progress through their assessment period for entry into the PPF as efficiently as possible.
Matthew Maneely, a partner at Smith & Williamson in Bristol and head of the firm’s pensions assurance team led the successful tender for the panel. He said: “We are delighted to have been appointed and are looking forward to developing long-standing and collaborative relationships with the PPF, fellow panellists and other panels already in operation.
“Our pensions assurance team has two key differentiating factors. It works exclusively on pensions assurance assignments and the team includes ex-pension scheme administrators. This industry experience together with our total focus on pension audit work gives us a rare breadth and depth of experience.”
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of publication.
Notes to editors
Smith & Williamson is an independently owned professional and financial services group with over 1,700 people. The group is a leading provider of investment management, financial advisory and accountancy services to private clients, professional practices and mid-to-large corporates. The group has twelve offices; these are in London, Belfast, Birmingham, Bristol, Cheltenham, Dublin (City and Sandyford), Glasgow, Guildford, Jersey, Salisbury and Southampton.