4 May 2021: Argyll opens Leeds office

17 Jun 2020: TPR updates Contribution Deferral guidance

5 Aug 2019: TPR's tougher stance on recovery plans

7 Mar 2019: TPR’s Annual Funding Statement a game-changer

7 Dec 2018: DWP publishes superfund consultation

26 Jun 2017: TPR agrees settlement with Coats

30 Apr 2017: PM promises TPR M&A powers

28 Feb 2017: TPR agrees settlement with Sir Philip Green

9 Nov 2016: Brexit so far

8 Nov 2016: BHS ripple effect

2 Nov 2016: Sir Philip Green sent warning notice

1 Nov 2016: Argyll Financial becomes Argyll Covenant

3 Oct 2016: Tata Steel update

2 Jun 2016: BHS to be liquidated

29 Mar 2016: Tata plans sale of UK Steel

3 Sep 2015: TPR takes dim view of late valuations

13 Aug 2015: New TPR covenant guidance

28 May 2015: Contribution notice in Carrington Wire case

22 Dec 2014: Third warning notice for Guinness Peat

18 Dec 2014: New PPF rules for Asset-Backed Contributions

19 Aug 2014: TPR announces Lehman Brothers settlement

10 Jun 2014: TPR publishes revised funding code

27 Mar 2014: EC postpones holistic balance sheet

20 Mar 2014: PPF announces new insolvency risk model

17 Mar 2014: PPF guarantees harder to certify

7 Feb 2014: Argyll Financial submits consultation response

2 Dec 2013: Regulator publishes new draft funding code

19 Nov 2013: Asset-backed contributions guidance from TPR

22 Oct 2013: FSD warning helps MF Global scheme buyout

10 Sep 2013: TPR supportive of Kodak restructuring

31 Jul 2013: Schneider Electric acquires Invensys for £3.4bn

24 Jul 2013: Supreme Court overturns FSD super-priority

8 May 2013: Support for employers in TPR's Statement

20 Mar 2014: PPF announces new insolvency risk model
The model has been developed with credit bureau Experian who replaced Dun & Bradstreet as the PPF’s new insolvency risk score provider last July. 
The PPF intends to publish a consultation document on the new model at the end of May this year.  PPF Director of Financial Risk, Martin Clarke, said: “after expert analysis involving industry and other advisors, we believe that this PPF-specific model will provide scores which more accurately reflect the insolvency risk of those employers whose schemes pay the pension protection levy.”

Argyll comment:  From the initial appointment of Dun & Bradstreet at the PPF’s inception, the PPF has worked with Dun & Bradstreet to adapt its models to the population of scheme sponsors, taking into account feedback from market participants.  Although not technically a State body, the PPF nonetheless performs a role similar to a State body and so it was inevitable that it would need to re-tender the insolvency risk provider appointment.  However such a change in provider, bringing in its own bespoke methodologies, means that schemes’ insolvency scores could change materially simply due to the involvement of another provider.  It is our hope that a model that is developed to be specific to the PPF's requirements can continue to be used by subsequent providers to improve the stability of the risk scores.  This is one of the key points we will be looking for in the consultation document.

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