Philip Goodchild

Head of pensions advisory

A recognised pension law expert and qualified CEDR (Centre for Effective Dispute Resolution) Mediator, Philip is well known for his work for pension schemes and employers across a range of sectors. He advises trustees and employers on all manner of pension law issues.

While Philip's main experience is in advising trustees of pension funds he also co-heads the pensions disputes resolution team and so is able to advise on all contentious as well as non-contentious matters, taking leading pensions law cases through the High Court and the Court of Appeal and on to the Supreme Court.

His technical skills and knowledge of general pension issues is of an extremely high level allowing him to provide clients with proportionate, practical commercial advice regarding their pension arrangements.

Philip is a member of the Association of Pension Lawyers and a regular commentator on legal issues affecting pension provision in the press and industry publications. He has sat on the legislation sub-committee of the Society of Pension Consultants and is a founder member of the Pension Lawyers Support Group. He regularly speaks at seminars and workshops on topical legal issues.

Recent experience includes: 

  • Advising Trustees of the Barnardo's Staff Pension Scheme on deeds relating to the closure to benefit accruals of that fund and future benefit provision and advising the trustees on the case before the Supreme Court in relation to RPI/CPI pension increases discretion.
  • Advising the Covea insurance company UK pension fund / Horizon Social Housing on various projects to reduce liabilities and to rewrite the trust deed and rules and to assist with a project to coordinate professional adviser support across 3 group pension funds. Advising on a closure to accruals of benefit.  Philip redrafted the trust deed of the Horizon plan.
  • Providing strategic advice to the trustees of Paramount Pictures/UCI pension fund on scheme funding negotiations and advising on the implementation of several Flexible Apportionment Arrangements to deal with Section 75 debts arising under the Scheme as a result of employee movement around the group.

A good knowledge of the area of law and knows our scheme details well.

Chambers UK 2019
Insights

Pension schemes and inflation

In the 12 months to August 2022, RPI has increased by 12.3% and CPI 9.9%. With this recent significant rise in inflation, employers and trustees have been asking what the impact of this is upon their defined benefit pension schemes. Members are also concerned that, against high inflation and a 'cost of living crisis, their pensions will maintain their value in real terms.

Court declares change of RPI to CPIH lawful

A number of pension funds have challenged the decision of the then-Chancellor and the UKSA to align RPI with CPIH. In this alert we discuss the outcome of that challenge and the impact of the decision on defined benefit pension schemes.

New approach to funding defined benefit pension schemes

The Pension Schemes Act 2021 provided for a framework for a new defined benefit funding regime. In particular, the framework would require defined benefit schemes to have a funding and investment strategy for the purpose of ensuring benefits under the scheme can be paid over the long term. The DWP is now consulting on draft regulations which explain what this will mean for trustees in practice. Read more to find out what trustees will be required to produce along with other changes and next steps.