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Peter Shave

Partner
Peter Shave

I lead a specialist group of lawyers within the Wragge & Co Pensions team that advises on pensions-related disputes.

Tel: +44 (0)121 260 9828
Email: peter_shave@wragge.com

Services: Pensions

Best brains in ...

Advice on minimising risk, member complaints through the Internal Dispute Resolution Procedure and before the Pensions Ombudsman, and High Court actions including court-approved compromises, rectification and professional negligence claims.

Highlight of your career so far?

Currently, this would be the Court of Appeal decision in the Steria booklets case. The case had very significant ramifications not only for my clients but for pension scheme trustees and sponsoring employers generally. We had advised that the member's claim was ill founded and we were vindicated in the Court of Appeal decision. The case demonstrated the importance of getting the analysis right from the start and having the courage to stick to your guns.

Most challenging job you've ever done?

For trustees of a multi-billion pound pension scheme sponsored by a FTSE 100 company marshalling limited evidence and countering strong arguments to achieve the desired result. It was like playing poker with a poor hand but we did it! - and our success discouraged similar claims that might have materialised from other members.

What about outside the UK?

For a major international airline with employees based in another EU country who were accruing benefits in their UK pension scheme, I had to take urgent action to avoid a significant additional funding liability that would arise as a result of an EC Directive. The case involved getting to grips with the rapidly changing UK legislation, tight deadlines and overseas injunctions. Strong teamwork with the overseas lawyers saw us win through and achieve the desired result.

What's your definition of going the extra mile ....... And when have you done it?

Getting to clients early with information of developments that could affect their business. Changes coming through in the Local Government Pension Scheme have the potential to have a significant effect on our public sector and outsourcing clients, aligning them more in some respects with the private sector regime. Based on my experience in advising private sector clients, I identified potential issues, briefing local authority and contractor clients enabling them to negotiate appropriate risk sharing arrangements.

Best example of a creative legal solution?

Steering pension scheme trustees and their sponsoring employers away from a scheme funding dispute which threatened to result in court proceedings to a unique bespoke agreement. The agreement gave the sponsoring employer a fixed payment programme for the long term and confidence to the trustees that the funding position of the scheme would be improved as they required. In return, the trustees agreed to suspend their power to demand higher payment which had been the source of the increasing friction between the parties.

When have you ever given a client a real competitive edge?

There are clear advantages (time, cost) in preventing disputes from arising if at all possible. We have worked proactively with clients to identify the sorts of things that are giving rise to complaints and then to identify steps that can be taken to address those issues and reduce the chance of claims arising in the first place. Following this work on ill health early retirement cases, one of our clients saw its incidence of complaints fall by 75% with none of the remaining Pension Ombudsman complaints being upheld.

What's your single greatest contribution to Wragge & Co's corporate responsibility?

Wragge & Co has been a long-term supporter of The Pensions Advisory Service. TPAS is a voluntary organisation that provides free help and information to members of the public about pensions issues. I have been a TPAS adviser for five years during which time I have been pleased to have been able to resolve many issues for members of the public for whom pensions is a very difficult and confusing subject.

What's been written or said about you that you're most proud of?

I have been described as knowledgeable, articulate and easy to understand - essential attributes for effective dispute resolution, which is all about thoroughly understanding the issues and then communicating clearly the client's position in terms that give them the best prospect of achieving their desired result.

Alerts

09.07.10

Global enterprise signals global financial support direction

We've only just witnessed the Pensions Regulator's first contribution notice. Now we're looking at its second financial support direction (FSD) exercise (the last time it issued any FSDs was in 2008 in respect of two Sea Containers pension schemes).

02.07.10

The bark becomes a bite: first contribution notice issued

The Pensions Regulator has issued its first contribution notice (CN).

18.12.09

DB or not DB?

Many schemes will have had to consider issues such as amending scheme rules to manage final salary pension scheme liabilities and getting member consent to alter benefits, each of which was considered by the court in the IMG case.

12.11.09

Can trustees have an eye to the lifeboat?

In the Ilford case, the court was asked to determine whether, as a matter of principle, trustees could have regard to the availability of compensation under the Pension Protection Fund (PPF) when making their decisions.

20.07.09

The importance of being earnest (about keeping pension scheme records accurate and up-to-date)!

If ever you needed a reason to check the accuracy of your records, a case determined last month highlights why you should flick a duster around the back of the filing cabinet every now and then!

13.07.09

"Minimum interference": some relief at last for employers on the equalisation front?

Last week the Court of Appeal handed down its eagerly awaited decision in the Foster Wheeler case.

07.05.09

Long tail for Ombudsman complaints?

The Pensions Ombudsman and his Deputy have recently come to different conclusions on whether they will deal with complaints made after the usual limitation periods applied by the courts have expired.

20.02.09

The Pensions Regulator's latest statement on scheme funding: revolution or evolution?

The Pensions Regulator has issued a follow-up statement to the one it issued last autumn on scheme funding in the current economic climate. The statement as reported in the press appeared to give grounds for serious concerns.

02.12.08

Beware the implications of your early retirement rule

The consequences of the Barber decision continue to challenge scheme sponsors and trustees. Did A-day and the flexibility to pay split pensions offer schemes a means of reducing the size of the Barber liabilities?

19.12.07

Smithson v Hamilton - correcting errors in pension scheme documents

How readily should courts correct errors in documents signed off by trustees and employers? What role should trustees have in scrutinising those documents in the first place? The case of Smithson v Hamilton suggests some interesting answers.

29.06.07

Regulator issues first financial support direction

The Pensions Regulator intends to issue its first financial support direction (FSD) against the Bermudan-based Sea Containers Limited (SCL), which is currently restructuring under the US Chapter 11 bankruptcy process.

17.05.07

US class action: should trustees be doing anything?

This alert gives a short explanation of US securities class actions and highlights the key issues for trustees to decide whether or not they want to become involved in any such action.
 

Press releases

18.07.08

Wragge & Co named European Pensions Law Firm of the Year

Wragge & Co LLP is the European Pensions Law Firm of the Year. The firm saw off strong competition from UK and international firms to secure victory at the first European Pensions Awards ceremony last night.

18.05.07

Wragge & Co wins FT pensions award

Wragge & Co LLP has been named pensions law firm of the year at the FT Business Pensions and Investment Provider Awards.

23.04.07

Pensions specialist joins Wragge & Co

Wragge & Co LLP's Pensions Team has underlined its commitment to growth in London with a new appointment. Sacker & Partners LLP partner Jane Kola is to join Wragge & Co's 32-lawyer Pensions Team as a director from August 2007.

19.04.07

Wragge & Co boosts Pensions Team with new partner

Wragge & Co LLP has boosted its pensions credentials with the appointment of a new partner. Paul Feathers has been promoted to the firm's partnership, taking the total number of pensions partners to six. He will be based in the firm's London office.

27.03.07

Wragge & Co helps secure PPF protection for MG Rover employees

Wragge & Co LLP Pensions Team has completed the largest transfer to the Pension Protection Fund, helping secure compensation for more than 6,000 people.
 

Published articles

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