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 three 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:

  • Daily Mail General Trust - Advising Daily Mail and General Trust Plc on the £3.1bn reorganisation of DMGT, comprising a recommended cash offer by RCL and a proposed distribution to all shareholders.
  • Ultra Electronics - advising Ultra Electronics Holdings plc on its £2.6 billion recommended cash acquisition by Cobham Ultra Acquisitions Limited, a wholly-owned indirect subsidiary of Cobham Group Holdings Limited (which is indirectly controlled by Advent International Corporation and its affiliates)
  • 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.

  • 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 Directories. He lectures regularly at Oxford University.

“His key strength is that he is a problem solver – he will always try and find a route to achieve the client's commercial objectives irrespective of the scale of the challenge." "He has a calm authority built on many years of experience.” (Chambers, 2022)