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+8621 6321 1166
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+86 755 6123 5666
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As one of the largest teams of risk transfer specialists we bring the depth and breadth of expertise needed to navigate this complex process and deliver optimal outcomes for members, trustees, sponsors and insurers.
We guide pension schemes from the buy-in stage to buy-out, final wind-up and trustee liability discharge, securing maximum protection for trustees.
We have a comprehensive view of the risk transfer market through our work for trustees, sponsors, insurers and reinsurers.
Since 2015 we’ve advised on 230+ buy-ins worth over £23.3bn - from small scheme buy-outs to multi-billion pound bulk annuity and longevity swaps deals.
We advise on how to structure and present scheme benefits to attract strong insurer engagement and competitive pricing, ensuring good outcomes for all stakeholders.
We give strategic guidance on issues such as the allocation of risk and how to ensure robust governance, and we guide you on complex and innovative approaches such as solutions for illiquid assets, framework bulk annuity schemes structures, and residual risks cover.
We reduce execution risk by proactively addressing legal issues ahead of exclusivity. Our extensive experience of working with trustees, sponsors, insurers and reinsurers enables us to resolve issues swiftly and efficiently.
Our advisers act on domestic and international matters of all shapes and sizes, working with many of the leading names in the market. Browse our experience below, or use the filters to look-up recent work in particular geographies and industry sectors.
Client confidential
Advised the sponsor of a £2.5 billion pension scheme on strategic endgame options, including the use of surplus as an alternative to a buy-in transaction and subsequent considerations relating to a potential full buy-in and buy-out. The work involved complex pensions, tax, employment and security arrangements.
Advised the trustee of a defined benefit pension scheme on a £700 million+ buy-in and subsequent buy-out, including the transfer of active members to a newly established scheme to enable continued accrual and the securing of discretionary pension increases for pensioners.
Aretas Sole Limited as Trustee of the Videndum DB Pension Scheme
Advised the trustee of the Videndum DB Pension Scheme on the bulk transfer of members and assets to the Clara Pension Trust, the UK's first authorised defined benefit pensions superfund. The transaction was the first completed through Clara's small schemes offering, improving the security of member benefits.
Advised pension scheme trustees on the restructuring of existing longevity risk management arrangements, including the negotiation of bespoke contractual documentation and the implementation of a new transaction structure designed to support a future buy-in.
Advised the trustees of two sister schemes on a significant buy-in transaction, including a competitive insurer-selection and Requested Contract Terms process, arrangements to avoid a trapped surplus and complex processes for changing GMP equalisation methods (moving from conversion to dual records) to facilitate a future buy-out.
Advised the trustees of a pension scheme on a full scheme buy-in with a leading insurer, securing the benefits of over 1,250 members, including the insurance of complex benefit underpins and guarantees, a competitive insurer selection and requested contract terms process, and governance measures including comfort and disclosure letters for warranties.
Advising the Trustees of the The Siemens Healthineers Benefits Scheme on its £213 million full buy-in with PIC. This buy-in secured the benefits of 703 pensioners and 967 deferred members and dependants and was the result of several years of complex work to prepare the scheme for buy-in.
Advising the Trustees of the DAC Retirement Benefits Scheme on its £11m scheme buy-in with Aviva. This transaction included a top-up contribution from the Sponsor, secured the benefits of all 15 deferred members and 25 pensioner members and completed the buy-in of all scheme liabilities.
Advised two schemes in the same family-run business on sub-£30m deals: one under L&G’s FLOW proposition, the other with Aviva, and the related buy-out projects including return of surplus and dealing with individual annuities.
Advised the trustees of the ABC Cinemas pension scheme (Odeon Group) on a £20m buy-in with Rothesay.
Our expertise, at your disposal
With over 490 partners and 3000 people around the world, we are well-placed to support you across a full range of legal and advisory services.
We were impressed by the team’s responsiveness and pragmatic approach. Their understanding of the risk transfer market and collaborative approach made them a trusted adviser throughout the transaction.
Abigail Cohen - Phoenix Life Limited
They have an exceptional ability to collaborate effectively with our advisers and other stakeholders, while ensuring the trustees receive timely and well-considered advice. As a result, both transactions were completed efficiently and without complications.
Ramona Tipnis - Chair of Trustees, Capital Cranfield
Pinsent Masons’ specialist risk transfer team met the challenge of seamlessly delivering this project across the five separate pension schemes as a single unified transaction. Their ability to work seamlessly with other advisers and anticipate challenges made a real difference. We couldn’t have asked for better legal support.
James Duggan - Vidett Governance Services Limited
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Multinational law firm Pinsent Masons has advised the Trustee of the Arco Group Pension and Life Assurance Scheme on its £135 million transfer to Clara Pensions.
Multinational law firm Pinsent Masons has won in the Energy/Infrastructure Team of the Year category at the Legal Business Awards 2026.
Multinational law firm Pinsent Masons has elected Richard Griffiths as Managing Partner.
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