Pension Protection Fund, London, hired nine consultants under a new framework to provide administration and actuarial services as well as advice, a spokeswoman said.
Broadstone Corporate Benefits, Barnett Waddingham, Deloitte, Mercer, XPS Pensions Consulting, Quattro Pensions Consulting, and Spence & Partners will provide administration and actuarial services as well as pension consultancy, when required, for the £32 billion ($41 billion) lifeboat for pension funds of insolvent U.K. companies.
Actuarial consultants with pension and insurance capabilities were also hired — Barnett Waddingham, Deloitte, Mercer, XPS Pensions Consulting, Quattro, Spence & Partners as well as the U.K.'s Government Actuary's Department and Hymans Robertson. The firms will provide the PPF with actuarial consulting services.
An RFP was issued in September. Additional details were not available.