Pension Protection Fund seeks first agency

The multibillion-pound company pension safety net launched by the government nearly ten years ago is hunting for external PR support for the first time.

Retirement safety net: PPF steps in when company pension schemes hit the rocks
Retirement safety net: PPF steps in when company pension schemes hit the rocks

The Pension Protection Fund (PPF), which provides compensation when companies go bust and are unable to pay staff pensions, has put a three-year brief worth £200,000 up for grabs.

A tender document seen by PRWeek states that the fund is seeking a "strong, long-term partnership in which added value and innovative ideas are as important as successful delivery of the core day-to-day tasks".

It is thought that positioning the organisation as a credible and professional voice in the market will be key to comms brief. 

Prompted by the rapid growth of the fund, the tender has progressed beyond PQQ stage with a number of agencies shortlisted.

Claims by pension schemes on the PPF dropped from £1bn down to £619m last year, but an investments portfolio now worth £16.4bn is expected to grow to between £60bn and £80bn by 2030. 

A spokesman for the PPF, which was launched in 2005, confirmed that the tender was taking place. 

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