National business law firm DWF has been appointed by the Pension Protection Fund (PPF) to its newly created Assessment Period Legal Panel (APLP).
DWF will bring its pension sector expertise to the panel alongside five other UK and international firms, focusing on three key PPF assessment areas: Admissible Rules, Equalisation and the Benefit Specification.
The new panel is the last in a series of five launched by the PPF to support the efficient transition of schemes into the PPF and through the Financial Assistance Scheme (FAS) wind-up, via engagement with key stakeholders.
Tim Green, pensions partner at DWF, who will lead the national team advising on APL matters commented: "As dedicated experts in the pensions sector, we are in a strong position to advise on these assessment period matters and our team's knowledge and experience will bring support to stakeholders throughout the assessment period. We look forward to being part of the APLP and enhancing the PPF's work so it is able to deliver certainty to scheme members much sooner."
PPF Chief Operating Officer, David Heslop, said: "This new panel is the final part in a series of panels we have successfully implemented over the past three years to reduce the time schemes spend in assessment. Since the introduction of the first panel, the PPF has consistently seen a reduction in the time that schemes spend in the assessment period – from an average of three years to the vast majority now completing the assessment period within two years."
Andrew Ashley Taylor, pensions partner at DWF, added: "DWF's national pensions team is delighted to support the PPF in driving efficiencies in this critical and important process."
The APLP will initially run for a two year period and is separate to the Legal Panel that was launched in October 2013.