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Gary Davies

he/himLegal Director
Gary is a very approachable adviser who communicates with great patience and empathy.
— Chambers 2023
LiverpoolManchester
About
Gary is a specialist UK pensions lawyer within our global Employment practice.  He acts for employers and trustees of many of the UK's largest pension schemes and has extensive experience in relation to large pensions insurance transactions and corporate mergers & acquisitions.

Gary is ranked by Legal 500 as a Next Generation Partner in our Tier 1 ranked North West Pensions practice, as well as being a key part of our award-winning UK Pensions team, which was recently recognised as Pensions Law Firm of the Year at the 2024 UK Pensions Age Awards.  
 
Areas of FocusCiencias de la vida
Professional QualificationsSolicitor of the Senior Courts of England and Wales

EXPERIENCE

  • Advised the trustee of the Royal Insurance Group Pension Scheme on the UK’s largest ever bulk annuity transaction. This landmark GBP6.5bn transaction was a highly complex and innovative solution that secured the liabilities of 40,000 members of the RIGPS and SAL Pension Scheme with Pension Insurance Corporation plc: RSA's UK schemes complete GBP6.5bn buy-in with PIC in largest ever bulk deal
  • Advised the trustee of the Svitzer Marine Pension Scheme (SMPS) in relation to an innovative solution involving a merger of all assets and liabilities of the SMPS with two other defined benefit schemes in the AP Moller Maersk group, combined with a simultaneous buy-in for all three schemes to secure all liabilities with an insurance company.
  • Successfully completed the buy-in of all deferred and pensioner member liabilities within the Redrow Staff Pension Scheme. This was important in securing all members’ liabilities with a reputable insurance company, the “gold standard” protection for members. The transaction was part of the trustees’ strategy to reduce the scheme’s exposure to risk, with the trustees agreeing to exchange the assets of the scheme for an insurance policy which exactly matches the projected cashflows for all future pension benefits. Under the bulk annuity policy, the Trustees will receive payments from the insurance company which they will use to pay pension benefits under the Scheme.
  • Advised the trustee of the Stantec Pension Plan (UK) in relation to the buy-in of all deferred and pensioner member liabilities (GBP125m) within the Biwater Section of the scheme, securing the benefits of such members with an insurance company. More on the deal here
  • Drafted the pension scheme rules for a global pharmaceutical company in preparation for a GBP25bn sale of subsidiary companies within the group.
  • Advised the trustees of the James Fisher pension scheme in relation to the unanticipated disposal of a participating employer in the scheme, which subsequently went into administration. This involved complex scheme funding and covenant advice for the trustees, taking into account complex refinancing arrangements undertaken by the employer group, which required notification to the Pensions Regulator. Our advice was very important in guiding the Trustees through the correct steps to ensure that the above did not have any detrimental impact on the security of members’ benefits and that appropriate arrangements were made for any employer debt by JFN Ltd was paid in full.
  • Advising the trustees of the Warburtons Pension and Life Assurance Plan in relation to a buy-in transaction to secure all pensioner liabilities with an insurance company. Some of the key tasks involved include a detailed review of all historic scheme deeds and documents in order to produce a specification of benefits to be insured, negotiation of contract terms with the insurer and advice to the trustees in relation to the crystallisation of their discretionary powers.
Education
  • College of Law, York, 2007
  • University of Durham, Law (2:1) (Hons), 2006

AWARDS AND RECOGNITION

  • Pensions Law Firm of the Year, Pensions Age
  • Top ranked North West Pensions Team, Legal 500
  • Next Generation Partner, Legal 500

Seminars

Gary recently participated as a panel member on a debate on Value For Money in DC Schemes, sponsored by The People’s Pension.

Prior Experience

  • May 2018 - present, Legal Director, DLA Piper UK LLP
  • May 2015 - May 2018, Senior Associate, DLA Piper UK LLP
  • August 2009 - May 2015, Associate, DLA Piper UK LLP
  • August 2007 - August 2009, Trainee Solicitor, DLA Piper UK LLP

Memberships and Affiliations

  • Association of Pensions Lawyers
  • Society of Pensions Professionals
  • Pensions Management Institute
  • Pension and Lifetime Savings Association

My latest insights

Publication

Automatic Enrolment in Ireland: What employers need to know

23 de septiembre de 2024 .7 minute read

Connect

Phone

(0) 151 237 4863
(Work)
(0) 788 526 1991
(Mobile)
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