ExactVAL, the newly set up actuarial valuation firm, will be responsible for both the valuations of the PPF and ongoing liability calculations for those members transferring from company pension schemes into the pensions lifeboat.
“We are thrilled to have the opportunity to work with such a high profile client as the PPF,” said Bill Harris, managing director and former Hewitt employee.
“Given its role and position in the marketplace, the PPF obviously has demanding requirements regarding levels
of accuracy and process documentation.”
He added that outsourcing this type of work will become increasingly popular to help improve efficiency within the pensions industry.
“It’s rather like the buyout side of things. People spent a year or so explaining to the market what was going on, but nobody did anything. Then suddenly there was a bit of a surge.”
Harris, who was responsible for setting up Hewitt’s valuation centre, said ExactVal was also working with large consultancies, offering training in valuation work. DR
