Tom McNaughton

Partner, Baker McKenzie

Tom is a Partner in the London office's Pensions Practice Group.

Tom advises both pension scheme trustees and their sponsoring employers in various industries, with particular experience in relation to industry-wide schemes. He covers a variety of areas including advising in relation to pension scheme mergers, de-risking exercises, corporate transactions and re-organisations, scheme benefit redesigns and restructurings (including closures to accrual and other liability management exercises). He also advises on a number of contentious matters as part of the Pensions Department's pensions disputes practice.

Representative clients

Significant clients which Tom advises include the Trustee of the Merchant Navy Officers Pension Fund, a large industry-wide scheme.

Recent maters on which Tom has advised include:

Advising the Trustee of the Merchant Navy Officers Pension Fund on various de-risking and insurance transactions as part of its strategic journey planning.
Acting in relation to litigation regarding potential changes to the inflation linking of defined benefit pension obligations.
Supporting a global technology firm on a strategic pensions consolidation exercise involving a one-time contribution of employer group shares through a bespoke funding vehicle.

Contributed to

2

Acting as secretary to pension trustees

Practice Notes

This Practice Note explains the role of a secretary to pension scheme trustees, including running trustee meetings and carrying out scheme work between meetings, as well as the legal, governance and practical considerations applicable to anyone who takes on such a role.

Pensions

Trustee liability and protection in pensions

Practice Notes

This Practice Note looks at ways in which pension trustees can protect themselves from any personal liability they might incur in their role as trustees, including through trustee exoneration clauses, trustee indemnity clauses, trustee insurance and statute. This Practice Note also looks at the degree of protection available for directors of corporate trustees, as opposed to individual trustees.

Pensions