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Stories about pensions don’t make for light weekend reading, but it’s one of those things we all need to understand. A bit like timetables, or how to make a boiled egg. For the firms who have been pitching for a place on the Pension Protection Fund (PPF) panel, this surely sounds familiar. (We’re talking about the pensions stuff, not dippy eggs and soldiers.)
“The critical thing for us,” says PPF’s director of strategy and legal affairs David Taylor, “was the service mentality of the firms. We wanted those firms who understand us - how we work, what we want and what we don’t want.”
So weekend reading no doubt paid off for the 23 firms who made the cut - the PPF chopped its legal advisers from 27 to 23 firms following its first major shake-up of legal advisers since it was set up under the Pensions Act 2004. Clyde & Co, Dentons and Wragge & Co are the big winners in the review, all three winning places on the organisation’s ‘core panel’, which will provide the majority of its legal advice. For Wragges, this is a first time appointment.