The Board of the Pension Protection Fund (PPF) has signed FactSet UK to deliver an investment performance reporting system.
The organisation, which provides protection for defined benefit pension schemes in the UK, has agreed on a contract valued at between £1.13 million and £2.46 million with the financial data and software solutions company.
The deal will run for at least three years with the potential for extensions up to 10, reflecting the expectation that the system will develop over the time with new components, modules and packages.
It will provide for the integration of the PPF’s systems and software with those of third parties, aimed at providing indications of performance, risk and measurement in the protection of pensions.
According to the contract award notice, the PPF expects the system to develop over the life of the contract to reflect changes in the market and its own strategy. The latter could include the size of its assets and liabilities and its approach to risk and return.
There could also be the need for the development of additional software and licences.
The Board of the PPF is a statutory organisation responsible for managing the fund, which was set up in 2004 as a protection for people whose defined benefit schemes become insolvent.
