Pensions

Blue-chip global clients seek the expertise of Linklaters’ pan-European pensions group to solve their most complex pensions issues.

The group has long experience of advising on the pensions elements of the most significant cross-border transactions, including corporate and pension scheme mergers and buyouts. Linklaters’ pensions lawyers help to ensure that pension and retirement benefits are treated consistently worldwide, but comply with all local regulations.

Leading multinational companies and financial institutions, sponsors and trustees rely on Linklaters’ day-to-day technical and administrative advice on running pensions schemes. The firm provides cutting-edge advice on good governance of funds, ranging in value from under £100 million to in excess of £20 billion.

Linklaters’ pensions litigation practice is also an acknowledged leader in the field.

Recent pensions transactions include advising:

  • the Trustee of the Rolls-Royce UK Pension Fund on its £4.6bn bulk annuity contract with Legal and General in June 2019.
  • the Trustee of the Pearson Pension Plan on two umbrella buy-in policies with Aviva and L&G in 2017, covering £1.2bn of pensioner liabilities, and the addition of a further £500m of liabilities to the L&G policy in 2019.
  • the Trustee of the Marks and Spencer Pension Scheme in 2018 and 2019 on 4 buy-in transactions with Aviva, Phoenix Life and Pension Insurance Corporation, all under umbrella contracts with a combined value of £2.9bn.
  • the Trustee of the Rentokil Initial 2015 Pension Scheme on its £1.5bn bulk annuity contract with Pension Insurance Corporation plc in 2019.
  • the Trustee of the £10bn Co-op Pension Scheme on the separation of the Cooperative Bank from the scheme by segregating the scheme into two ring-fenced segregated sections. 
  • the Trustee of the Aviva Staff Pension Scheme on its £5bn longevity swap
  • the Trustees of the Uniac Pension Fund on the largest section 615 buy-in - £129m
  • Nortel Networks Inc. in its dispute over a financial support direction