Pensions Governance & Administration

Operating a pension fund is an increasingly complex enterprise, requiring a high degree of expertise and skill.

We advise trustees and employers on the full range of day-to-day governance and administration matters, as well as major projects such as scheme mergers, demergers and winding up.

The demands on trustees, scheme secretaries, pension managers and other pension professionals (whether trustee or sponsor-side) are increasing, with more complex legislative requirements and greater regulatory focus across defined benefit and defined contribution pension funds. Approaches to pension fund operation may also shift with changes to a sponsor or its group, to the trustee board, to advisers or providers, or with major projects. There is a constant process of change management and just ensuring everyday compliance can be a significant challenge.

For instance, we can assist clients with:

questions of trustees’ decision making including fiduciary duties
questions of trustee liability and protection
reviewing or changing trustee governance arrangements
trustee training (including to meet knowledge and understanding requirements)
conflicts of interest policies and management
monitoring and managing risks
member-nominated trustee arrangements
amendments to rules and governing documentation
administration and benefit queries
defined contribution investment platforms
defined contribution charges and governance
individual and bulk transfers
pension scams
automatic enrolment
new pension arrangements
self-invested personal pensions (SIPPs)
master trusts
excepted group life trusts and policies
guaranteed minimum pensions (GMP) issues
issues relating to contracted-out benefits
discrimination
same-sex marriage
equalisation
member complaints
adviser and provider appointments and management.

Industry appointments

We participate in a wide range of pensions industry groups. See our full list of industry appointments.

Work examples

Advising the Vodafone Group Pension Scheme on its merger with the Cable & Wireless Worldwide Retirement Plan, including the transfer of nearly £2bn of investment products.

Advising the MGN pension schemes (within the Trinity Mirror Group) on a novel three-scheme merger addressing complexities arising from the history of the schemes (the Robert Maxwell scandal).

Advising three UBM pension schemes in relation to transfers to a new merged pension scheme and the associated winding up of the three original schemes.

Advising Dow Chemical Pension Schemes on a pensions-led reorganisation of Dow's UK operations, including the merger of three schemes.

They have a rare combination of being very sound technically but also being very pragmatic. They don't just identify problems, but come forward with a possible solution.