Fieldfisher's Podcast

Fieldfisher

Introducing Fieldfisher podcasts: Our expert lawyers share their views on the latest legal developments, interview key clients and compare ideas with leading legal and business minds on everything from technology regulation to infrastructure in Africa. Please browse our archive to see our many and varied discussion topics.

  1. vor 5 Tagen

    The Pensionist - Episode 7: Whose surplus is it anyway?

    In this episode of The Pensionist, we turn to a question that would have seemed almost fanciful only a few years ago: what should schemes do with a defined benefit surplus? With well-funded schemes now surging across the market, the return of surplus is moving from theoretical possibility to practical reality for a growing number of schemes.  The rules, however, are far from simple. The treatment of surplus depends heavily on whether a scheme is ongoing or in wind-up, and the strict statutory conditions that currently apply to refunds from ongoing schemes are about to change. The Pension Schemes Act 2026 will give trustees a new statutory power to amend their rules to permit a refund of surplus while the scheme is ongoing, and will lower the funding threshold from a buyout basis to a low dependency basis, with regulations expected to come into force on 6 April 2027. Hosted by Larisa Gordan, Senior Associate in Fieldfisher's Pensions team, this episode features Jeremy Harris, Pensions Partner at Fieldfisher, and James Chalk, Client Director and professional trustee at Vidett. Together they work through how surplus can be used or returned, the legal rules and trustee duties that shape those decisions, the key trust law authorities from Edge to Merchant Navy Ratings and Bristol Water, market practice on how surplus is typically split between sponsors and members, run-on strategies for well-funded schemes, and the brand-new June 2026 DWP consultation and accompanying TPR guidance.

    The Pensionist - Episode 7: Whose surplus is it anyway?

  2. 17. Juni

    The Pensionist - Episode 6: To Buy Out or Not to Buy Out?

    In this episode of The Pensionist, we move beyond the familiar question of when to buy out and consider a more fundamental one: is buyout always the right destination? With defined benefit schemes now sitting on funding positions that would once have seemed out of reach, the endgame conversation has shifted. Surplus is front and centre, and for many schemes the question is no longer simply when to buy out — but whether to buy out at all. Hosted by Larisa Gordan, Senior Associate in Fieldfisher's Pensions team, this episode features Gurbani Swanni-Leach, Head of Endgame Solutions at M&G, and Oliver Reece, Pensions Partner at Fieldfisher. Together they map the full range of endgame options - from run-on and superfunds to longevity insurance, contingent buy-in products, and escrow arrangements - considering who holds the decision-making power, how trustees should navigate the tension between certainty and value, and what robust governance of a run-on strategy actually requires in practice.

    The Pensionist - Episode 6: To Buy Out or Not to Buy Out?

  3. 20. Mai

    The Pensionist - Episode 5: Inside the DB Endgame: A Conversation with PwC

    In this episode of The Pensionist, we discuss the defined benefit endgame through the lens of current market conditions and real‑world transaction experience.  With defined benefit schemes increasingly well-funded and insurer pricing and capacity remaining attractive, many trustees and sponsors are considering whether now is the right time to transact, and what being “ready” truly looks like in practice. Hosted by Larisa Gordan, Senior Associate in Fieldfisher’s Pensions team, the episode features Dweenisha Caleechurn, who leads PwC’s bulk annuities practice, alongside Oliver Reece, Pensions Partner at Fieldfisher. Together, they explore how schemes approach risk transfer in different funding and governance scenarios, what typically differentiates a smooth journey from a challenging one, and why preparation particularly around data, benefit specifications and residual risks is critical both pre‑ and post‑buy‑in. The discussion also draws from PwC’s latest Risk Transfer Quarterly Insights report (a link to the report can be found here), reflecting on recent market developments, including insurer consolidation, pricing dynamics, and the outlook for 2026. It considers how wider geopolitical and macroeconomic is influencing trustee and sponsor decision‑making. Particular attention is given to the issues that can arise for smaller schemes and how they can best position themselves to achieve strong outcomes in a competitive market.

    The Pensionist - Episode 5: Inside the DB Endgame: A Conversation with PwC

  4. 1. Apr.

    The Pensionist - Episode 4: DB de risking and buy out readiness: A Professional Trustee's Perspective

    In this episode of The Pensionist, we explore a question that is firmly at the top of trustee agendas: how do you de‑risk a defined benefit pension scheme without falling into common — and costly — traps? With buy‑in and buy‑out activity at unprecedented levels, many schemes are suddenly asking whether now the right time is to move — but “well‑funded” doesn’t always mean operationally ready.  Hosted by Larisa Gordan, Senior Associate in Fieldfisher’s Pensions team, this episode features Annabelle Hardiman (Head of Professional Corporate Sole Trustee at the Independent Governance Group), Hatty Goodwin (Trustee Director and Head of Risk Transfer at the Independent Governance Group) and Oliver Reece (Pensions Partner at Fieldfisher). Together, we discuss the governance and delivery essentials that underpin a successful transaction — including setting an endgame strategy, coordinating advisers as one team, and getting data and benefit specifications “insurer‑ready”, as well as implications for smaller schemes.

    The Pensionist - Episode 4: DB de risking and buy out readiness: A Professional Trustee's Perspective

  5. 28. Jan.

    The Pensionist, a pensions podcast - Episode 3: Passing Wealth - Inheritance Tax and Pensions

    In this episode of The Pensionist, we discuss one of the most pressing and complex challenges currently facing pension scheme administrators and trustees: the changing environment of inheritance tax.  Larisa Gordan, Senior Associate in Fieldfisher’s Pensions team, is joined by David Gallagher, Partner and Head of Pensions at Fieldfisher, and Sir Steve Webb, Partner at Lane Clark & Peacock and former Minister of State for Pensions. Together, they explore what these legislative changes really mean in practice, where the biggest impacts will be felt, and how schemes can prepare for what comes next.  Read more here.

    The Pensionist, a pensions podcast - Episode 3: Passing Wealth - Inheritance Tax and Pensions

  6. 15.12.2025

    The Pensionist: A pensions podcast - Episode 2 - Ready for compliance? ESOG & ORA

    In this episode, we unpack what readiness really means under the Regulator's General Code. From defining and documenting an Effective System of Governance (ESOG) to planning and delivering your first Own Risk Assessment (ORA), we explore the practical steps trustees need to take now. We cover proportionality, efficiency, and the consequences of non‑compliance - so you can approach the 2026 ORA deadlines with confidence, not panic.  This discussion covers important topics, such as: How to measure readiness: key steps for ESOG and ORA complianceThe legislative journey and why deadlines matterPractical sequencing: gap‑analysis, governance framework, ORA planningTips for embedding ORA findings into “business as usual”If you’re asking, “Are we ready?” then this episode gives you guidance. Read more here.

    The Pensionist: A pensions podcast - Episode 2 - Ready for compliance? ESOG & ORA

  7. 26.11.2025

    Introducing The Pensionist: A pensions podcast - Episode 1 - Cyber resilience: Prevention, response & continuity planning

    We are excited to launch The Pensionist – our new podcast series dedicated to exploring the most pressing issues in the pensions legal industry. Each episode will unpack complex topics and provide practical insights for trustees, employers and advisers navigating today's challenges.  This episode offers guidance to help trustees and other key stakeholders safeguard sensitive information and maintain compliance in an increasingly digital world.

    Introducing The Pensionist: A pensions podcast - Episode 1 - Cyber resilience: Prevention, response & continuity planning

  8. 20.11.2025

    Top 10 Deal Killers: Episode 2 - Equity incentives: the good, the bad and the painful

    Join Tim Bird, Corporate Partner at Fieldfisher, and Mark Gearing, Head of Equity Incentives, for the second episode of Top 10 Deal Killers, as they dive into the thorny world of share option schemes and how they can make - or break - a deal.

    Top 10 Deal Killers: Episode 2 - Equity incentives: the good, the bad and the painful
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Introducing Fieldfisher podcasts: Our expert lawyers share their views on the latest legal developments, interview key clients and compare ideas with leading legal and business minds on everything from technology regulation to infrastructure in Africa. Please browse our archive to see our many and varied discussion topics.

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  • Erstellt von
    Fieldfisher
  • Jahre aktiv
    2023 - 2026
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