David Griffiths

David advises on corporate defined benefit pension arrangements, scheme mergers, funding structures, governance, legacy issues, and benefit rectification.

• Advised on over 30 completed buy-in/buy-out transactions, including sale of complex trust assets and arrangements to return surplus to the scheme sponsor.
• Prepared for insurance company buyout, including various kinds of escrow funding and/or sponsor agreements to support transactions without risk of “trapped surplus”.
• Acted for pension scheme trustees to merge two schemes to present a better platform for eventual insurance company buyout.
• Worked on three consecutive transactions to consolidate pension schemes within a corporate group and facilitate effective use of surplus funds.
• Advised pension scheme trustees in relation to a corporate merger of a household name company, involving a change of pension scheme employer covenant and negotiation of a suitable funding agreement to ensure full funding without risk of building up a surplus in the scheme.
• Advised upon, and implemented, structures to manage pension debt liabilities, to ensure safe and managed wind-down and buyout of schemes.
• Handled funding negotiations both as an adviser and as a professional trustee.
• Helped several trustee boards through the process of Guaranteed Minimum Pension rectification and sex equalisation.
• Found solutions to legacy issues of sex discrimination (Barber claims) to achieve scheme buyout and wind-up.
• Managed several pension scheme closures to accrual of benefit without a requirement to maintain a final salary link to accrued benefits.
• Assisted trustees in bulk transfer of DC assets and liabilities to insurance company master trusts.
• Resolved “Virgin Media” documentation questions raised by pension scheme trustees and by company auditors.

David has expertise in supporting international corporate clients with specialist overseas pension arrangements.

• Advised the trustees of two s.615 pension schemes for overseas employees, including the provision of regular legal updates.
• Implemented security assets for pension schemes, including schemes with overseas sponsors (in US, Germany and Ireland), consisting of parent company guarantees, securities over property assets, or bank guarantees.

David has advised brewing, hospitality and leisure companies in relation to their corporate pension schemes for over 20 years.

• Acted in the merger of a household name brewing and hospitality company in relation to their merger of works and staff pension schemes.
• Advising a well-known tour operator in relation to sex equality requirements.
• Advised the Trustees of the Thomas Cook UK DC Pension Scheme for several years prior to that Scheme’s successful discontinuance and winding up.
• Advised in relation to funding arrangements for Manchester Airport pension schemes.
• Advised in relation to security arrangements for the Althams Travel Services Pension Scheme.

David has advised utility, engineering and research companies for more than 25 years.

• Advising a natural resource and environmental consultancy in relation to the management of risks within its defined benefit pension scheme.
• Providing legal advice to the trustee body of a geo data company operating within energy, water and infrastructure.
• Advising a gas controls business in relation to its pension liabilities.
• Advising a business specialising in manufacture of environmentally-friendly blast cleaning products.
• Advising on the pension scheme of a global project and infrastructure management services consultancy.

Recommended by Chambers UK for Pensions, North West 1997–2025

Recognised by The Legal 500 for Finance: High Yield 2024

Recognised by The Legal 500 for Finance: Debt Capital Market 2024

Included in the Seventh Edition of The Best Lawyers 2018 in the United Kingdom

Recommended by The Legal 500 for Pensions 2015, 2017

Recognised by Chambers UK as a Leading Individual 2016