RiskOperational RiskWillis Signs up to PFaroe to De-risk Pension Scheme

Willis Signs up to PFaroe to De-risk Pension Scheme

Risk advisory group and insurance broker Willis has selected PensionsFirst as its technology partner to provide more detailed analytics on its pension scheme, which has liabilities of £1.3bn, and will use its PFaroe risk management platform to enable the pension trustees to proactively monitor and manage the scheme.

“PFaroe will give us the toolkit necessary for implementing an effective trigger-based de-risking strategy, which will allow us to capitalise on favourable market opportunities far more quickly than ever before,” said Richard Bostock, pensions director at Willis Group. “PFaroe will give us immediate and up-to-date information allowing the trustees to act on market triggers and improve our funding levels in the most efficient way possible.”

The PFaroe platform allows all pension scheme stakeholders to have daily access to their entire scheme information online. The aim is for discussions to focus on more relevant topics and for it to become easier for schemes to be managed at the highest levels of governance. All advice can be modelled and the effects of any action mapped out. This often avoids mistakes that may be costly and could, in some cases, lose schemes millions of pounds.

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