Introducing Skyval - PwC launches revolutionary online pensions analysis platform

Published at 00:01 AM on 04 July 2013

PwC has launched Skyval, a new pensions risk analytics tool that allows companies and trustees to manage, monitor and take decisions about their pensions issues in a quicker and more informed way.

Skyval models pension scheme assets and liabilities accurately in real time and has been developed exclusively by PwC as part of a joint venture with financial technology company PensionsFirst Analytics. Decision-makers will have direct access to instant information and analysis, only previously available through advisers and then usually out-of-date due to the complex nature of the calculations involved.

Skyval includes real-time access to accounting disclosures, assumptions benchmarking, scheme funding valuations and scenarios; pensions risk management analysis and data on risk transactions; and "what-if" sensitivity-testing. Companies and trustees can access Skyval via their PwC adviser or license the product directly as a web-based software service. This allows companies and trustees to manage their pensions arrangements faster and more effectively, thus tackling a significant area of corporate cost and financial uncertainty, and strengthening corporate governance.

Michael Rendell, head of global human resources consulting at PwC, said:

“We have developed Skyval to meet the increasing needs of employers and trustees to better understand and manage the risks in their pension schemes. The combination of Skyval’s user-friendly and intuitive analytics and our pensions advisory expertise is already revolutionising the way companies and trustees are taking decisions about their pension schemes.

“This is an exciting development for our pensions business and the market as a whole. Skyval transforms the way pensions actuarial advice is provided, significantly drives down adviser costs and allows organisations more control over the major financial burden of defined benefit pensions schemes on their balance sheets.”

 Raj Mody, head of pensions advisory at PwC, said:

“All those involved in making decisions about their pension schemes have been telling us this is what they need. Skyval means finance directors, treasurers, pensions managers, trustees and CIOs can now accurately monitor the risks in their pension schemes on a regular basis and quickly capitalise on opportunities to improve the status of their pension scheme.

“Risk can only be managed when you understand it and this new software gives companies and trustees a better insight into their pension schemes than ever before. This is more vital than ever as there remains more than £1.5trn of defined benefit pension liabilities in the UK, with over a third not covered by assets in pension schemes for companies looking to manage these liabilities off their books. This legacy problem continues to impact company balance sheets, create a drag on business confidence and investment, and unsettle employees."

For more information or comment, contact Amy Tiernan on 0207 804 0556 or [email protected]


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