Pensions advisory

Deed and rules overhaul for an airline pension scheme trustee

Assisting with overhauling the scheme's documentation to implement benefit design changes and incorporate the provisions of three other arrangements after a scheme merger.

Scheme amendment for trustees of a children's charity pension scheme

Advised on and drafted documentation to implement the closure to future accrual. This involved preserving a link to employees' salaries and ensuring the cessation was effective across several benefit categories.

Advice on life assurance trusts

In light of the recent and on-going reductions to the lifetime allowance, Alex has advised employers on the use of relevant life policies as an alternative means of life assurance provision.

Advising NGO's pension scheme trustee on pension increase exchange exercise

This involved reviewing the employer's communications to members for the trustee to ensure the exercise complied with the voluntary code on incentive exercises.

Corporate

Advising GDF Suez on its acquisition of Balfour Beatty Workplace

This involved careful consideration of final salary liabilities and other pensions risks arising from the target's participation in public sector, private trust based and private contractual pension arrangements.

Advising purchaser on acquisition of investment management business

Advised on all pensions aspects of this acquisition including red flag due diligence and drafting the pensions indemnities and warranties.

Advising Mexican brewery on acquisition of distillery in Northern Ireland

Provided UK pensions advice on this international transaction. It involved the negotiation and careful documentation of how past and future service pensions liabilities would be apportioned between the parties.

Pensions dispute resolution

Acting for representative beneficiary - pension increases

Conducted case for representative beneficiary. The case involved construction and rectification of the pension increase provisions of a scheme's rules.

Acting for trustees - scheme amendment power

The case concerned a question of whether or not a scheme could be amended to close accrual and also terminate the link between past service benefits and future salary increases.

Response to pensions ombudsman complaint - investment loss

Successfully defended the trustees of a money purchase pension scheme against a member alleging investment loss.

Banks and banking

Ongoing advice to Chinese bank

Providing scheme sponsor advice to UK branch office of a Chinese bank on matters and have assisted with reviewing and commenting on the update to the scheme's trust deed and rules.

Ongoing advice to Canadian bank

Providing scheme sponsor advice to Canadian bank's in-house legal team on matters including risk reduction and integration of staff following a TUPE transfer.

Advising trustees on custodian agreements

Advised trustees on amendments to custodian agreement to ensure effective novation to the trustees of another scheme as part of a pension scheme merger project.

Pensions

Ongoing advice to trustees

Advising trustees on the recent changes affecting transfers from DB to DC schemes. This has included advice on updating scheme transfer procedures and member communications.

Ongoing advice to employers

Assisting with various ad hoc automatic enrolment queries. Among other questions, this has involved considering the eligibility of secondees, contractors and consultants for automatic enrolment.

Drafting an airline pension scheme

Updating the trust deed of an airline pension scheme to reflect a substantial benefit redesign and implement the benefit provisions for members who transferred in from three other arrangements.

Acquisition of Balfour Beatty Workplace by GDF Suez

This involved careful consideration of final salary liabilities and other pensions risk arising from the target's participation in public sector, private trust based and private contractual pension arrangements.

Response to pensions ombudsman complaint

Successfully defended the trustees of a money purchase pension scheme against a member alleging investment loss.