UNITE the Union, the largest trade union in the UK and Ireland, has appointed international law firm Pinsent Masons as the sole adviser on its £800m Unite Pension Scheme for staff and officers, it emerged yesterday.
The pension pot recently doubled in size following the recent merger of the former TGWU and Amicus union pension schemes. Unite’s pension scheme is overseen by a 14- strong board of trustees, who opted for Pinsent Masons following a competitive tender process.
Howard Ridley, the pension practice partner who led the Pinsent team, commented: “We are delighted to be appointed to act for such a significant scheme. Our sector experience was a key factor in our appointment. In addition to advising the trustees on a full range of contentious and non-contentious pension issues, we can also provide them with specialist support on investment and property issues. We look forward to helping the trustees ensure that the scheme continues to be well run and meets the needs of its members.”
The Pinsent pensions team has a strong history or advising trade union clients, including TGWU, Amicus, the National Union of Mineworkers and the Unity Trust Bank. Outside of the sector, the team’s client base includes organisations from a wide array of industries and recently made headlines for its role in advising the trustees of the Kaupthing Singer & Friedlander.