Philip Goodchild

Partner

A pension law expert, Philip is well known for his work in a range of sectors, in particular corporate and not-for-profit. He advises trustees and employers on all manner of pension law issues. Philip is a partner in the advisory pensions law practice.

Philip’s experience in advising trustees and employers ranges from advising on liability reduction exercises such as ceasing accruals and buy in/buy out projects. After twenty five years in the industry there is virtually no area which Philip has not dealt with.

His technical skills and knowledge of general pension issues is of an extremely high level allowing him to provide clients with 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. He regularly speaks at seminars and workshops on topical legal issues. Philip is an accredited CEDR mediator.

Recent experience includes:

  • Advising Trustees of the Johnson and Johnson main final salary scheme on the demerger of Johnson and Johnson and splitting of its pension funds into two arrangements. Advising various funds on closure to benefit accruals and future benefit provision.
  • 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.
  • Providing strategic advice to the trustees of Paramount Pictures/UCI pension fund on scheme sectionalisation and advising the Trustees of the FM Global Pension plan on its change of principal employer and (post Brexit) change of principal sponsor to a company based in Luxembourg from England.

Philip is always available to discuss complex legal matters.

Chambers UK 2025
Insights

VAT recovery on pension costs

On 18 June 2025, HM Revenue & Customs (HMRC) changed its policy on the recovery of VAT on investment costs. Effective immediately, employers can now treat all VAT incurred on investment management services for occupational pension schemes as their own input tax and reclaim it, in line with standard input tax rules.

Pension Schemes Bill published

On 5 June, the Government published the Pension Schemes Bill. The Bill aims to tackle fragmentation, boost investment, increase saver returns, address waste across the defined contribution (DC) workplace pensions market and the Local Government Pension Scheme (LGPS) and allow additional flexibility for the extraction of a DB surplus.

Pensions update: major Virgin Media development

The Government has announced that it will introduce a legislative 'fix' to give pension schemes the ability to retrospectively obtain written actuarial confirmation that historic benefit changes met the necessary standards.