Stephen Richards

Partner

A big scheme specialist, Stephen advises employers, trustees, and master trusts on all types of pensions issues. He has a commercial style on strategic issues and brings a responsive approach on day to day matters. With the ability to present complex ideas in a simple way, Stephen has helped a variety of clients with tricky pensions issues, from the trustees of global banks to UK manufacturers.

Stephen joined Stephenson Harwood from Allen and Overy to complement our strong and growing pensions team. As a rising star in pensions law, Stephen further enhances the reputation of the firm's pension practice.

He is an expert on pensions in the banking sector, large pension schemes, Pensions Regulator issues and master trusts. Stephen has experience on major strategic projects including advising on the acquisition of a major master trust provider and the largest company contribution made to a pension scheme to date. Stephen is also a trustee so he understands what trustees need from their advisers. Stephen established the Pensions Innovation Café, and likes to present advice in a modern, user friendly way.

Stephen‘s recent experience includes advising on multiple transfers to DC master trusts and the trustees of several of the UK's major pension schemes on all day to day legal issues. He also gave strategic advice on major Pensions Regulatory issues for a FTSE 100 company as well as to a global telecoms company on world-wide pensions issues.

 

 


Stephen Richards is a very charismatic and able lawyer. He seems to be a real rainmaker – since joining the firm they have picked up some very big clients.

The Legal 500 UK 2020
Insights

Pensions and the Budget 2024

UK investment and value for money

Pensions briefing – a new defined benefit funding regime

Updated draft Regulations published

Lifetime allowance abolition – an update

The abolition of the Lifetime Allowance (LTA) is being undertaken in two stages. The first was the removal of the LTA tax charges from 6 April 2023. The second will be the abolition of LTA itself from 6 April 2024. Rather than a simple abolition, the LTA is in effect being replaced by lump sum allowances which will still control the level of tax-free cash that an individual can receive from registered pension scheme arrangements. On 4 January 2024, HMRC published an updated newsletter providing further guidance on the how this will work in practice.