Sandeep advises on a broad variety of pensions and employment-related matters. His practice is transactional, general advisory and contentious.
He advises employers and trustees. His experience includes management of issues arising from scheme funding deficits, implementing the transition to more affordable benefit structures and full or partial buy-outs of pension scheme liabilities.
He is at the forefront of thinking in developing collective defined contribution (CDC) schemes, acting as the sole external legal adviser on the ground breaking CDC scheme which Royal Mail designed with their unions under the new Pension Schemes Act 2021 regime.
Highlights include advising:
- the trustees of the BT Pension Scheme on a range of high profile matters including Part 8 Proceedings in the High Court and Court of Appeal relating to pension increases, a £2bn asset backed funding arrangement, a new “stabiliser” mechanism to address employer concerns regarding the risk of future trapped surplus, and on their response to Ofcom’s Strategic Review of Digital Communications
- Royal Mail on the changes to the benefit structure of the RMG section of the Royal Mail Pension Plan and the innovative risk sharing design of a replacement plan. Sandeep had previously advised on the transfer of more than £24bn of pension liabilities and assets from Royal Mail to HM Government
- GlaxoSmithKline on key ongoing pensions advisory matters, including a pensionable pay capping exercise and a recent consultation on closing defined benefit pension schemes to future accrual
- Interserve on the various pensions and employment issues associated with recent restructuring exercises
- Firstgroup plc on agreements reached with their pension scheme trustees around the employer covenant impacts of recent US disposals and associated returns of value to shareholders
- Philips International on the de-risking of their UK pension fund in a deal which resulted in the largest full buy-out in the UK at around £3.5 billion
- Uniq plc on its deficit for equity swap with the trustee of the Uniq Pension Scheme
- HM Treasury and UK Asset Resolution on a wide range of pensions and employment matters relating to Northern Rock, Bradford & Bingley, Dunfermline Building Society, and the bank recapitalisation exercise
Sandeep is listed as a leading individual for Pensions in Chambers UK and Legal 500 Directories.
‘Sandy Maudgil is outstanding. Extremely friendly and approachable, with a knack of making complicated issues understandable.’ Legal 500 2022