Andrew Patten
I started life as a pensions lawyer in 1996. Since then, each passing year has seen an increase in the amount and complexity of pensions law and regulation. It can be difficult, even for an expert, to keep up with the pace of change.
I help clients by delivering clear, practical advice and recommendations allowing them to navigate this complex pension's landscape and achieve a successful outcome to their issue.
My work covers schemes and employers of all shapes and sizes with those in the financial services, retail and energy sectors being an area of specialism. Areas of focus include funding and security arrangements, liability management exercises, scheme restructurings (closing schemes, changing benefit structures and merging schemes) and outsourcing, administration, governance and benefit audit projects. I am also experienced in acting as a professional trustee.
I play an active role in the pensions industry, sitting on several committees and chairing the Association of Pension Lawyers' Benefit Re-design and Liability Management Course.
Practice Area
Panel
- Contributing Author
Qualified Year
- 1996
Education
- University of Manchester: LLB (Hons)
2 Contributions by Andrew Patten
PRACTICE NOTES
Defined benefit pension schemes in takeovers under the UK Takeover Code: trustee rights, offeror disclosures, Rule of Six, intention statements, mitigation agreements, notifiable events and Pensions Regulator clearance
This Practice Note considers the pension aspects that arise on transactions (including share sales) within the scope of the City Code on Takeovers and Mergers (the Takeover Code). For pension issues of more general application to share sales, see Pension issues in share sales—an introduction.
The Takeover Code
The Takeover Code is the commonly used name for the City Code on Takeovers and Mergers. It is issued by the Panel on Takeovers and Mergers (the Panel), the independent supervisory body for corporate transactions under Part 28 of the Companies Act 2006.
Purpose of the Takeover Code
The Takeover Code establishes an orderly framework for the conduct of takeovers. Its primary aim is to ensure that the shareholders of a target company are treated fairly and equally and are afforded the opportunity to decide on the merits of a takeover offer. The Takeover Code comprises principles and Rules and emphasises compliance with their spirit rather than a purely literal reading.
When does the Takeover Code apply?...
Pensions
PRACTICE NOTES
Private Sector Outsourcing: TUPE Pension Obligations, Beckmann Liabilities, Minimum Pension Provision, Consultation Duties and Auto-enrolment - Key Risks for Customers and Suppliers
THIS PRACTICE NOTE APPLIES TO OCCUPATIONAL AND PERSONAL PENSION SCHEMES
The nature of an outsourcing
Outsourcing arises where an organisation contracts with a third party to assume responsibility for delivering services that its own staff presently perform under the organisation’s direction. In almost all cases, employees’ contracts of employment move automatically to the service provider as part of the arrangement. A common illustration is a company (the Customer) handing over its IT function to a specialist firm (the Supplier) under an outsourcing deal. In that scenario, the Supplier undertakes to supply IT services to the Customer, with the Customer’s current IT team transferring to the Supplier. The automatic movement of employment can give rise to pension issues and related matters. This is pertinent on a first-generation outsourcing and when the service provider changes during the arrangement. Pension issues may emerge on termination of the outsourcing agreement...
Pensions
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