Pensions in Scotland

Pinsent Masons LLP

Pinsent Masons LLP is regularly sought after by trustees and employers of defined benefit and defined contribution pension schemes. The team is led by veteran pensions specialist Ian Gordon, who is highly regarded for his role as an independent trustee and his advice to pension schemes. Ruth Tobias counsels on all aspects of defined benefits pensions law, including buy-ins, buy-outs, and scheme mergers, and Cameron McCulloch advises trustees and corporate clients on securing pension liabilities with insurers. Amie Bain joined the firm in September 2023 from Shepherd and Wedderburn, bringing significant experience in the energy and financial services sectors.

Responsables de la pratique:

Ian Gordon


Autres avocats clés:

Ruth Tobias; Cameron McCulloch; Amie Bain; Arlene Eves


Les références

‘They are very responsive and provide clear advice, which means their clients can make good decisions and achieve their goals. They work well with other advisers as part of a team. These attributes should not be taken for granted.’

‘Ian Gordon’s unerring instincts on approach to deliver quickly and effectively for his clients across the range of scenarios and challenges is notable. Cameron McCulloch is excellent at making a positive contribution, giving clear direct legal advice for the circumstances at play.’

‘They have the ability to explain complex issues in ways that trustees and members can understand.’

Principaux clients

Plumbing & Mechanical Services (UK) Industry Pension Scheme


Babcock Naval Services Pension Scheme


Barnett & Hall Holdings Pension Scheme


Edrington Group Pension Scheme/ Highland Distillers Pension Scheme


Trustees of the University of Aberdeen Superannuation and Life Assurance Scheme


Texas Instruments Limited Plan


Capita Pension and Life Assurance Scheme


Norbord UK (Sterling) Pension Scheme


Murray Johnstone


Suncor


Principaux dossiers


  • Advised the trustees of Plumbing Pension on a variety of issues, including procedures for dealing with section 75 debts.
  • Advised Capita Pension and Life Assurance Scheme on a project to assess and document the benefits across all of its 200+ sections.
  • Advised abrdn on its de-risking plan in relation to its £1bn+ defined benefits scheme.

Shepherd and Wedderburn

Praised for being 'knowledgeable about all aspects of pensions', Shepherd and Wedderburn advises companies and trustees from diverse sectors such as financial services, transport, and higher education. The practice is co-led by pensions specialists Louisa Knox, Andrew Holehouse, and Edwin Mustard. Knox focuses on defined benefit and defined contribution schemes, scheme restructuring, and ESG compliance. Holehouse supports trustees of major occupational pension schemes with risk management and transactional issues, while Mustard is experienced in general scheme advisory work and pension disputes. Additionally, director Kirsty Headden offers expertise in the pensions implications of corporate activities.

Responsables de la pratique:

Andrew Holehouse; Louisa Knox; Edwin Mustard


Autres avocats clés:

Kirsty Headden; Richard Jones; Daniel Boynton


Les références

‘Andrew Holehouse is a very authoritative partner. Director Kirsty Headden is always available and on top of issues.’

‘Shepherd and Wedderburn has a big team with resources across other disciplines such as litigation.’

‘The team is friendly, personable, and can communicate effectively in different mediums.’

Principaux clients

The Trustees of the Association of British Insurers Pensions and Assurance Scheme


Trustees of the Stagecoach Group Pension Scheme


The Trustees of the University of St Andrews Superannuation and Life Assurance Scheme


The Weir Group Pension and Retirement Savings Scheme


Trustee of the abrdn (SLSPS) Pension Scheme


Trustees of the A.G. Barr plc Retirement Benefits Scheme


Trustee of the Universal Music Group Pension Scheme


Trustee of the Scottish Hydro-Electric Pension Scheme


Trustee of the Brewin Dolphin Retirement Benefits Scheme / Trustee of the Brewin Dolphin Pension Fund


Principaux dossiers


  • Advised the Trustees of the Association of British Insurers Pensions and Assurance Scheme in securing a full buy-in for all remaining un-insured benefits.
  • Acted as legal adviser for the Trustees of the University of St Andrews Superannuation and Life Assurance Scheme.
  • Advised the Trustee of the Weir Group Pension and Retirement Savings Scheme on the Scheme’s funding structure and on a pensioner buy-in transaction involving a deferred premium agreement.

Brodies LLP

Brodies LLP is highly esteemed for its ‘extensive knowledge of pensions and pensions law’, making it a popular choice among pension scheme trustees. The team is also well-versed in advising public sector pension funds, US law firms, and institutional pension providers. Practice head Juliet Bayne advises on all types of pension schemes for public and private sector clients, while senior associate Jennifer Crawford supports sponsoring employers and trustee boards. The arrival of Alistair Hill in November 2023 from CMS added ‘strength and depth to an already strong team’.

Responsables de la pratique:

Juliet Bayne


Autres avocats clés:

Jennifer Crawford; Alistair Hill; Maureen Burns


Les références

‘The growing team at Brodies is extremely professional. They are also extremely pragmatic and diligent. Their advice is always clear, concise and efficient.’

‘Juliet Bayne is extremely insightful. Always pragmatic and clear in terms of her directions to her clients, no sitting on the fence in terms of her advice. The addition of Alistair Hill to their team will also add strength and depth to an already strong team.’

‘They are responsive, focused and wise. They are a cut above the other legal advisors.’

Principaux dossiers


  • Acted for North East Scotland Pension Fund in relation to an admission of a charitable body to the LGPS and subsequent novation of admission agreement.
  • Advised Bristow Helicopters Limited on group-wide pensions restructuring project.
  • Provided advice on numerous technical matters to the Trustee of the Menzies (Aviation) Pension Fund, including in respect of GMP rectification and equalisation exercises.

Burness Paull LLP

Burness Paull LLP stands out for its corporate pensions advisory work, assisting UK and international companies with the pension aspects of mergers and acquisitions, private equity investments, and refinancing activities. The firm’s pensions team is helmed by Margaret Meehan, who represents employers, pension scheme trustees, and local authorities. Sarah Phillips, who spearheads the corporate department, advises on transactions and addresses pension disputes. Liam Young, elevated to partner in August 2023, focuses on scheme governance, trustee discretion, and GMP equalisation.

Responsables de la pratique:

Margaret Meehan


Autres avocats clés:

Sarah Phillips; Liam Young; Eilidh Robertson


Les références

‘The pensions team at Burness Paull provides an incredible service, which combines top-class intellect with a down-to-earth and client-focused approach. They are also very empathetic in their approach, which means the client feels heard and understood.’

Margaret Meehan and Liam Young complement each other perfectly. They can be relied on to quickly get to the heart of any pensions issue and provide advice that is compelling and easy to understand. They deliver excellent value for money and are very commercial in their approach.’

‘A very strong team covering legal and scheme secretary services. What makes them stand out is their high level of responsiveness, their understanding of the Scheme and their ability to put themselves in the shoes of the Trustees to meet our needs.’

Principaux clients

Aegon UK pension scheme


Scottish Enterprise pension scheme


Inspire (Partnership Through Life) Ltd.


STV Group


Phoenix


Swire Energy Services Limited


Capability Scotland pension scheme


Abrdn


Transocean Onshore Support Services Limited


Scottish Investment Trust PLC pension scheme


Principaux dossiers


  • Advised Transocean on the pensions aspects of an asset sale involving a drilling rig and employees transfer under TUPE.
  • Advised Phoenix on matters including complaints, death benefits, insurance, and scheme documentation.
  • Advised the trustee of the Aegon UK Staff Retirement and Death Benefit Scheme on a de-risking project with Scottish Widows valued at £160m.

Morton Fraser MacRoberts

With Martyn Shaw at the helm, Morton Fraser MacRoberts‘s expertise encompasses asset-backed funding arrangements, buy-ins, and GMP equalisation. James Keith offers advice on all aspects of pensions law to trustees, companies, public-sector clients, and third-sector organisations. Meanwhile, senior associate Richard MacDonald is experienced in apportionment arrangements, scheme mergers, and handling the pension aspects of corporate transactions.

Responsables de la pratique:

Martyn Shaw


Autres avocats clés:

James Keith; Richard MacDonald


Les références

‘MFM is unique in its very practical approach.’

‘Martyn Shaw is very pragmatic, James Keith is always on top of every issue, and Richard MacDonald is an able deputy.’

‘James Keith and Martyn Shaw have built a strong reputation for the MFMac pensions team as a collaborative, commercial and solutions-focused team.’

Principaux clients

The Trustees of the Barclay & Mathieson Limited Retirement and Death Benefits Scheme


The Trustee of the Ayrshire Metal Products Group Senior Officials’ Pension Scheme


The Scottish Government – Transport Scotland


Northumbrian Water Group Limited


The Trustees of the Veitchi (Holdings) Limited Retirement Benefits Scheme


The Trustee of the Fourstones Paper Mill Company Limited


Trustee of the Royal College of Surgeons of Edinburgh Retirement Benefits Scheme


Babtie Group Ltd Superannuation and Life Assurance Scheme, and the Pension and Life Assurance Plan of Allot & Lomax


Trustees of the Scottish Leather Group Ltd 1979 Retirement Benefits Scheme for Directors


The Sandusky Limited Retirement Benefits Scheme for Directors, Officers and Senior Management; the Sandusky Limited Retirement Benefits Scheme for Works Employees; and the Sandusky Limited Retirement Benefits Scheme for Salaried Staff Employees


Principaux dossiers


  • Provided Transport Scotland with pensions advisory and drafting services in connection with the renationalisation of the Caledonian Sleeper rail franchise.
  • Provided The Veitchi (Holdings) Limited Retirement Benefits Scheme with advisory and drafting services in connection with the buy-in of the Scheme’s benefits.
  • Acted for The Trustee of the Chivas Brothers Pension Scheme (Pernod Ricard Group) in connection with the suitability of a £40m investment in the Schroder AAA Flexible ABS Fund and updating the terms of various investment management agreements and custody agreement.

CMS

In addition to its notable experience in benefit redesign, pension scheme closures, and liability reduction strategies, CMS also offers support in litigation and pensions de-risking transactions. Led by Jae Fassam, the practice supports scheme, trustee, corporate, and public sector clients, including on matters related to liability-driven investing claims. Key senior associates include Claire Miller, who focuses on the day-to-day management of pension schemes for trustees; Amanda Cooke, with expertise in master trusts and contract-based pensions; and Amina Mahmood, who advises on both defined benefit and defined contribution schemes. Alistair Hill left the firm in October 2023.

Responsables de la pratique:

Jae Fassam


Autres avocats clés:

Claire Miller; Amanda Cooke; Amina Mahmood


Les références

‘The team at CMS keep each other informed and can deputise at a moment’s notice where needed. They are responsive and always keen and eager to help.  I would appoint them on other cases without hesitation.’

‘I couldn’t ask for a more dedicated and thorough team. Jae is fantastically pragmatic and a great communicator, one of the best (if not the best) pensions lawyers I have worked with. Claire Miller makes an excellent deputy to Jae, clearly all across the detail and ever so helpful when I need something.’

‘They always deliver top quality advice, are ultra-responsive, and clear on fees’

Principaux clients

Trustees of the British Medical Association Staff Pension Scheme


TotalEnergiesPension Company Limited


The Trustees of the John Dewar and Sons Limited Pension Scheme


ISS UK


Lothian Pension Fund


Trustees of the Gulf International Bank (UK) Limited Pension Scheme


Trustee of the Samsung Electronics Manufacturing (UK) Ltd Pension & Life Assurance Scheme


SLB (formerly known as Schlumberger)


Tayside Pension Fund


Principaux dossiers


DWF

DWF is proficient in advising on master trusts, buy-ins, and buy-outs of pension scheme liabilities, operating across various spaces such as real estate, engineered asset solutions, and transport. Spearheaded by June Crombie, the group supports private, public, and third-sector clients with establishing schemes, handling acquisitions and TUPE transfers, managing pension duties, and setting up death-in-service life assurance schemes. Colin Greig is experienced in contentious pensions issues.

Responsables de la pratique:

June Crombie


Autres avocats clés:

Colin Greig


Les références

‘Excellent customer service which is specific to the needs of the individual client.’

‘Colin Greig is a first-class partner with excellent client service standards.’

‘DWF is a leader in this specialist field in Scotland. DWF has the ability and experience to deal with all aspects of the legal work involved with pension schemes from inception to wind-up including buy-in and buy-out.’

Principaux clients

Workdry International Limited


IPSOS


Ballyvesey Holdings Limited


Church of Scotland


Serco


Aliter


VisitScotland


Cornwall Council


Cove Communities UK Investments, LP


Sheffield City Council


Principaux dossiers


  • Advised CIGNA 2000 UK Pension Plan on the transfer of members to a master trust and bespoke features.
  • Advised the Trustees of Gordonstoun Schools Ltd Retirement Benefits Scheme on all legal aspects in relation to securing scheme liabilities with insurer and completion of scheme wind-up.
  • Advised Apleona UK PPP on all pensions-related aspects of the acquisition of JCW Group, including in connection with existing rights.