Pensions risk transfer

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.

Follow Pensions risk transfer

A pragmatic approach

We guide pension schemes from the buy-in stage to buy-out, final wind-up and trustee liability discharge, securing maximum protection for trustees.

A complete view of the market

We have a comprehensive view of the risk transfer market through our work for trustees, sponsors, insurers and reinsurers.

Market-leading experience

We have advised on over 210 bulk annuity deals worth over £22bn – 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.

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Our latest work

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.

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

Latest press releases

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26 Feb 2026

Pinsent Masons MPillay advises Asian Development Bank on funding of submarine cable connecting Vanuatu and New Caledonia

Pinsent Masons MPillay has advised the Asian Development Bank (ADB) on the financing for the design, construction and installation of a 411-kilometre submarine cable connecting the Pacific nations of Vanuatu and New Caledonia.

23 Feb 2026

Pinsent Masons forges strategic partnership with Legora

Multinational law firm Pinsent Masons has today announced its global firmwide strategic partnership with leading legal AI platform Legora following an extensive pilot programme across its corporate, commercial and property groups.

17 Feb 2026

Pinsent Masons advises Q ENERGY on second-life wind farm project in France

Pinsent Masons has advised Q ENERGY on the design and drafting of a refurbishment contract for an innovative wind project in France, relying exclusively on second-hand wind turbines. The project, scheduled for commissioning in 2028, represents a significant step forward in the integration of circular‑economy principles within the renewable energy sector.