Overview

Richard advises companies and pension scheme trustees across the full range of pensions issues including moral hazard investigations, corporate restructuring, Pension Protection Fund work, funding negotiations, scheme documentation, closures and mergers. He is dual qualified in Northern Ireland and England and Wales and is a full member of the Association of Pension Lawyers.

Richard has particular experience in advising on cases involving the Pensions Regulator and the Pension Protection Fund.

Richard is a regular speaker at the Pensions team's annual 'Hot Topics' seminars in London, Belfast and Bristol. He also presents at seminars and conferences held by various external bodies including both the Institute and Faculty of Actuaries and the Society of Northern Ireland Actuaries.

Experience
  • Advising scheme trustees and acting as the main point of contact with the Pensions Regulator for a high-profile moral hazard investigation involving a financial support direction being sought against a UK and overseas listed plc.
  • Advising trustees in relation to innovative proposals by the struggling employer in order to avoid insolvency and protect members' jobs. This work was in a highly contentious area and involved detailed negotiations with the Regulator, the Pension Protection Fund and taking advice from a leading QC.
  • Advising a manufacturing company with a pension scheme with a £60 million deficit on the entry of the scheme into the Pension Protection Fund, involving applying to the Regulator for clearance and an approval notice for a regulated apportionment arrangement and negotiations with the Pension Protection Fund.
  • Providing legal advice to scheme trustees on the detailed mitigation for the pension scheme in the context of a £4 billion restructuring of the supporting employer group. The work included significant negotiation, as well as advising on regulatory clearance, court approval and the legal position in a number of overseas jurisdictions.