Daniel Schaffer

Partner
Joined firm 2017. Partner since 2017.

Dan is a partner in our Pensions Employment & Incentives Group. He joined the firm in 2017. He has over twenty two years of partner experience. His practice is transactional, general advisory and contentious.  He advises employers and trustees.  Dan’s experience includes preparing for a sale process, benefit redesign and covenant and funding solutions.

Dan’s work includes acting for:

  • RSA Insurance Group plc - advising on the £7.2bn recommended cash offer by Intact Financial Corporation and Tryg A/S (both overseas entities) and reaching agreement with the trustees of RSA’s defined benefit pension schemes.

  • De La Rue plc - advising De La Rue plc on the pensions aspects of its placing and open offer of new ordinary shares to raise gross proceeds of £100 million.

  • E.ON – advising on electricity privatisation and since 1990. Recent work includes the demerger with Uniper and the establishment of the Uniper group of Electricity Supply Pension Scheme and the acquisition from RWE of the Innogy business and pensions arrangement.

  • Ovo – advising on Ovo’s acquisition of SSE’s household energy and services business and on future pensions arrangements for a further 8,000 employees.

  • Railways Pension Scheme – having advised BRB on privatisation in 1992 – 1996 he has advised since 1997 the trustee of the 110 section industry-wide scheme. 

  • Severn Trent trustees – advising on equalisation, master trust transfer and triennial actuarial valuations.

  • Prudential plc and M&G plc – advising on the demerger of M&G from Prudential involving 3 pension schemes with liabilities exceeding £7.5 billion in total.

  • Daily Mail General Trust – advising our long-standing client Daily mail and General Trust plc on its making available £117 million from the group’s cash resources to the group’s defined benefit schemes.

  • Derwent – advising on the transfer of all pensionable employees to the Fidelity Master Trust including resolving a number of structural issues and negotiating better than “market practice” terms to protect members from potential market movements during the disinvestment and reinvestment process. Also advising on the associated issues of deferred annuity contracts to certain non-transferring members.

Dan is listed as a leading individual in Chambers UK and Legal 500.  He lectures regularly on pensions including at Oxford and Bristol universities.  Dan is chair of Bristol University Law School’s Advisory Board.

“An industry veteran with a wealth of experience and knowledge" by impressed sources, who also highlight his "very client-focused attitude." He is highly regarded for his expertise in advising on a broad range of pension scheme issues including funding, implementation and redesign matters.” (Chambers, 2020)