Andrew Parker

Director

What our clients say

Maggy Eriksson, Former Partner Aon Hewitt Retirement & Investment
Secretary to the Trustees of the AWE Pension Scheme

Andrew has acted as independent trustee and chair of the AWE Scheme for about 3 years. During that time we have concluded a difficult set of valuation discussions and closed the scheme to future accrual. His in depth knowledge of pensions and his ability to manage and lead the board as well as building effective relationships with key stakeholders has been immensely valuable in taking the scheme forward and helping to secure member benefits

Areas of expertise

Andrew is involved in the trustee boards of a number of schemes that vary in complexity and size – from £100 million to £2.2 billion; are of a defined benefit, defined contribution and hybrid nature; and operate in a variety of industries. He chairs five of these trustee boards. Andrew also has an IGC appointment. He also leads our practice in the trustee board effectiveness area.

He joined Law Debenture from BT Group where he was a sponsor-nominated trustee director of the BT Pension Scheme (BTPS).

Notable successes

  • Building and improving effective working relationships between sponsor companies and trustees to move towards resolving pension risk in an integrated risk management environment
  • Leading and contributing to valuation discussions for trustee boards, including working with scheme actuaries on technical provision assumptions and assessing the strength of employer covenants (using independent third party covenant assessors)
  • Considering the length and make up of recovery plans and the use of contingent assets and security in protecting members’ interests and easing cashflow burdens on companies
  • Improving governance on schemes with review and, where appropriate, re-tendering of existing advisers
  • Brokering agreements between members of trustee boards and between boards and companies, some with overseas sponsors, as well as negotiating with companies in discussions with the Pensions Regulator
  • Establishing investment strategies, strategic direction and journey plans towards self-sufficiency and buy-out for well-funded schemes

Andrew in the news

Pensions Expert - Seven in 10 professional trustees want standards body

Professional Pensions - Do we need a stricter regime for updating scheme rules and deeds?

Pensions Expert – FCA market study: All-in fee might not be all-in cure

Pensions Expert - GKN continues derisking with £53m buy-in

Professional roles and qualifications

  • Andrew graduated in law and is a solicitor
  • He is a council member of the Association of Professional Pension Trustees from 2014 to 2018 and recently stood down as director of the Conference Board European Pensions Council