A financial institution on establishing a £500m contingent funding arrangement for their UK pension scheme.

A financial institution on putting in place arrangements to support their Irish pension schemes. 

The trustee of several large pension schemes on the implementation of GMP equalisation.

A financial institution on implementing proposals to comply with pensions aspects of “ringfencing” legislation. 

A financial institution on merging their offshore pension arrangements. 

A financial institution on revising and updating the governing documentation of their UK and offshore pension arrangements.

A financial institution on managing issues arising from a change to the way pension increases are awarded to some members of their UK pension arrangement. 

The trustee of several large pension schemes on managing complaints raised by pension scheme members.

The trustee of various large pension schemes on revising contingent asset arrangements which provide security for pension liabilities.

The trustee of the pension scheme of a financial institution on the impact of changes to minimum retirement age for their members.

Relevant previous firm experience advising both corporates and trustees on bespoke funding and security arrangements, including advising the trustee of a major retailer's Pension Scheme on an early example of an asset backed funding arrangement. 

Allen & Overy and relevant previous firm experience in relation to risk transfer transactions, including advising on the first “non-intermediated” insured longevity swap.

Relevant previous firm experience advising both trustees and corporates on implementing changes to pension arrangements, including changing the benefits, closing schemes to future accrual, merging schemes and winding up arrangements. 

Relevant previous firm experience, including:

The trustee of a £2bn+ defined benefit scheme on the IPO of its sponsoring employer, the acquisition of the sponsoring employer and several refinancings.

The trustees of various large pension schemes on liability driven investment strategy, one of the first large-scale strategies adopted by a UK pension scheme.

The trustee of a scheme for charitable and other employers on various matters including an innovative structure for managing changes of employers across their arrangements.

A financial institution on introducing a choice of normal retirement age for members of their UK defined benefit arrangements.

Various sponsors and trustees on introducing a contractual pensionable salary cap under their UK defined benefit pension schemes and establishing new defined contribution pension arrangements.