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Dan Naylor

Saturday, 17 August 2019
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Dan has been advising pension scheme trustees, pension scheme sponsors, parties to major corporate transactions and insurance companies on all aspects of pensions law and practice since 2004. He advises the trustees of schemes of all sizes, sponsored by employers in a wide range of sectors.

Dan has particular expertise in relation to pensions de-risking transactions. Recent work includes advising British American Tobacco on a buy-in of the British American Tobacco UK Pension Fund insuring £3.4 billion of liabilities with Pension Insurance Corporation (the third largest transaction in the UK to date and is the largest ever including both pensioner and deferred members). He also advised the Trustee of Nortel Networks UK Pension Plan on Legal and General's £2.4bn buyout of the pension scheme, the largest 'PPF-plus' pension buyout ever at the time. And he advised the Trustee of the TRW Pension Scheme on a £2.5bn buy-out (the largest in the UK at that time) and the Trustee of the Greenalls Group Pension and Life Assurance Scheme on a c.£350m buy-out. In addition to buy-in/buy-out solutions, Dan has also advised in relation to longevity hedging transactions.

He has also advised the trustees of a number of schemes in distressed scenarios; this includes advising the trustee of the British Steel Pension Scheme in connection with its separation from Tata Steel by operation of a regulated apportionment arrangement and the establishment of the New British Steel Pension Scheme and associated member transfer exercise.

Dan advises trustees and employers on the full range of pensions issues and projects, including liability management projects, benefit correction exercises, member disputes, scheme mergers, employer restructuring, and administration and governance issues.

Dan has significant experience in the negotiation of long term funding and security agreements for defined benefit pension schemes that have pension de-risking as a long term objective.

He is a regular speaker at seminars and is a participant in the bulk annuities and longevity swaps member interest group of the Institute and Faculty of Actuaries. He also participates in the Lawyers in Schools Programme (www.smartlaw.org.uk/lawyers-in-schools)

Legal 500 comments that Dan is 'outstanding' and 'personable and commercially strong’, while Chambers report that Dan is "very bright, articulate and innovative" and that he "provides good, common-sense applications of regulations." 

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