Pensions
Speechly Bircham’s multidisciplinary Pensions practice offers the full spectrum of pension services. Our strength and breadth has been built on a strong foundation of satisfied clients who continue to use Speechly Bircham as their first point of contact for all their pension requirements. The practice offers the experience of a magic circle law firm, but with the personal service levels and charge out rates of a mid-sized city firm.
Advising on schemes ranging from £1 million to $500 million in size, we act for all parties in the pensions field and on all types of pension arrangements. We are particularly well used to advising US corporates, and other overseas parent companies about UK pension issues.
On the pro bono side, the practice has particular expertise in the charity sector, through its work with individual charities and its membership of the Charity Finance Directors' Group, who helped produce 'The Charity Pensions Maze'.
Every team member takes the time to fully understand clients’ objectives and the role that this plays within the bigger picture. We work hard to protect your interests, and our in-depth experience enables us to find the best solution for our client. We provide commercial advice, delivered in plain English.
Experience
Corporate support – such as, M&A work, applications for clearance from the Pensions Regulator, advice on outsourcing, management buy-outs, merging of charities and scheme abandonment issues.
Insolvency – particularly advising on the impact of pre-packs on defined benefit pension schemes and whether clearance is needed; appointment of independent trustees and the implications of non-payment of contributions to defined contribution arrangements.
Pensions litigation – particularly advice on rectification and professional negligence, helping employers and trustees defend allegations of mal-administration and also claims against employers by senior executives regarding contractual pension promises. The team is experienced in handling cases both before the Pensions Ombudsman and the courts.
Trustees and sponsoring employer support - for example, advice on scheme specific funding, employer covenant review, winding up schemes, conflicts of interest policies, risk management including buy-outs and buy-ins, use of contingent assets for security, reducing the risk based pension levy for the Pension Protection Fund and assistance on pension implications of corporate restructuring.
Members – in particular advice on closure of defined benefit schemes. Also general advice on mal-administration issues and early retirement terms.
Financial services – particularly advice on investment management agreements, custody agreements and SIPPs.
Pension providers/IFAs – providing advice for high-net-worth individuals on their pension arrangements, including overseas transfers using QROPS. We have also successfully set up QROPS for various providers. We are one of the few pension practices in the City to have this expertise.
Benefit and tax advice - for example, advice on reducing risk through benefit changes, advice on the introduction of salary sacrifice, compliance with age discrimination legislation and the implications of the anti-forestalling rules in the Finance Act 2009 for the higher paid as regards the new special annual allowance for them.
We are experienced in negotiating with the Pensions Regulator and the Pension Protection Fund on behalf of our clients and if necessary lobbying the DWP on our clients’ behalf.