Cardano, a pensions firm that specialises in liability-management, is now advising on almost one-third of the assets of the £30 billion Electricity Supply Pension Scheme – one of the UK's biggest – as it grapples with significant funding challenges.

Cardano said yesterday it has been hired by the pension trustees of UK Power Networks, UKPN, the owner of electricity cables and wires in London, the South East and the East of England.