Pensions Law

What is involved?

The regulation of pension schemes is complex, sometimes counter-intuitive and still evolving.

We deliver clear targeted advice in all areas of pensions law for our clients, allowing them to achieve their objectives as quickly, and with as few hurdles, as possible. We tailor our advice to ensure that we deliver what is required by decision makers. We are subject matter specialists but also deeply commercial and not afraid to share our views on what is ‘market’ and what is not when advocating for our clients’ interests.

Our clients include UK corporates (and their overseas parents), pension trustees, investors, lenders, local authorities, charities, SSAS and SIPP operators and other law firms

Our team comprises lawyers who have worked in some of the largest pensions law teams of global and national law firms. With that experience you can be confident there aren’t many aspects of pensions legal work they haven’t undertaken.  But as subject matter experts, we are also ready to meet the new challenges and problems which are ‘on the horizon’ as pensions law continues to evolve.

Our areas of expertise with pensions

We advise across the full range of pensions law but some of our core areas are set out below.

• Public sector pensions: advising private sector employers and public sector bodies on issues arising out of the operation of public sector arrangements (including admission terms and exit debts) including the LGPS, TPS and CSPS.
• Scheme funding: supporting sponsoring employers and trustees in scheme funding negotiations and advising on tailored funding arrangements including asset backed contribution structures and contingent funding agreements (triggered on, for example, corporate disposals).
• Security: advising on the grant of security by sponsoring employers (including use of contingent assets recognised by the Pension Protection Fund) as part of scheme funding negotiations or as mitigation for corporate activity.
• Investment: advising on pension law aspects of investment and on investment management agreements, fiduciary management agreements, custody agreements and platform provider terms.
• Regulatory actions: advising potential ‘targets’ of the Pensions Regulator’s ‘moral hazard’ powers (including financial support direction power) on their options and negotiating settlement of proposed regulatory action (including drafting settlement agreements).
• Insured transactions: advising employers and trustees on the terms of bulk purchase annuity transactions as part of ‘buy-in’ and ‘buyout’ projects with recent projects concluded with insurers Legal & General, Aviva and Rothesay Life.
• M&A: advising on the pension implications of corporate activity (whether buy side or sell side) including the scope and application of TUPE, liabilities associated with public sector pension protections and managing risks arising from the Pensions Regulator’s ‘moral hazard’ powers.
• Restructuring (solvent and insolvent): supporting our restructuring team when dealing with the pension implications of employer group reorganisations and restructuring (including ‘distressed’ employer scenarios).
• Scheme merger/reconstruction: advising on the establishment, closure, merger and reconstruction of occupational pension schemes including as part of harmonisation projects and as a preliminary step to ‘buyout’.
• Disputes: advising in relation to member disputes (including complaints to the Pensions Ombudsman and claims brought under Part 8 of the Civil Procedure Rules concerning the correct interpretation of pension scheme rules.
• Automatic Enrolment: advising companies on their ongoing employer duties in respect of automatic enrolment, undertaking audits on a company’s current automatic enrolment arrangements to determine compliance with the employer’s statutory obligations and advising on automatic enrolment breaches.
• SSASs and SIPPs: advising both SSAS and SIPP trustees, providers and administrators, assisting and advising with regards to member disputes and preparation of scheme governing documentation.