Sandeep advises on a broad variety of pensions and employment-related matters, both insofar as they affect mergers and acquisitions, and in the day-to-day ongoing context.
He has extensive experience advising employers and trustees of a wide range of occupational pension schemes on all matters, including management of the issues arising from scheme funding deficits and recent changes in pensions legislation, as well as implementing the transition to more affordable benefit structures and full or partial buy-outs of pension scheme liabilities.
He has also been at the forefront of thinking in relation to collective defined contribution (CDC) schemes and the new options for retirement benefit provision opened up by the Pension Schemes Act 2015.
Highlights include advising:
- 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 to HM Government and the pre-IPO pensionable pay cap which enabled the Plan to remain affordable for a further period of time notwithstanding the significant increase in costs
- BT Pension Scheme Trustees on the high profile Part 8 Proceedings in the High Court relating to pension increases, their response to Ofcom’s Strategic Review of Digital Communications and in relation to BT’s 2018 benefit change proposals
- 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 on 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 in the Pensions section of Chambers UK, 2018.