Seen by clients as ‘leaders in pensions claims’, Outer Temple Chambers handles a broad range of pensions work, synchronising with the set’s reputation for employment work. The set had four members – Philip Stear, Patrick Tomison, Nicolas Stallworthy KC, and Andrew Short KC – involved in one of the largest pensions cases of late, Virgin Media Ltd v NTL Pension Trustees II Ltd. Dealing with the wider question of if section 37 of the Pension Schemes Act of 1993 invalidated amendments made without an actuary’s certificate. This year, three of the six counsel involved in the ’massive Part 8 action’ Verity Trustees Ltd v Wood & Save the Children Fund, Re: The Pensions Trust are from Outer Temple: Nicolas Stallworthy KC, Victoria Brown, and Andrew Spink KC. The case, proceedings for a multi-employer scheme with nearly 3,000 employees and £13bn in assets, is the longest submissions-only trial in the area.
Legal 500 Editorial commentary
Mentions
Profile
Work Department
Pensions, Chancery and Trusts
Position
Barrister specialising in Pensions, Chancery & Trusts
Career
Philip Stear’s practice involves the interaction of commercial trusts, insolvency and contract law, with a particular focus on disputes arising in relation to occupational pension schemes.
Philip joined Outer Temple Chambers on Call in November 2018, having been a solicitor in Travers Smith LLP’s highly ranked pensions practice for more than twenty years, thirteen of them as a partner. In his early career he was a Lecturer in Law at the University of Bristol (specialising in the law of contract and the law of trusts) from 1992 to 1995, and then part-time (with a special focus on pensions law) from 2000 until 2004.
Philip is an acknowledged expert in relation to technical pensions law and regulatory practice, and combines this with long practical experience of occupational pension schemes and the practical challenges they face in relation to governance and trusteeship, benefit design and modification, funding and security and member communications and disputes. Reflecting his earlier academic career, he also maintains a wide and deep knowledge of the broader legal landscape, particularly in relation to property law (whether concerning trusts, land law, unincorporated associations or charities) and contract law. Clients prize him as a solution-oriented lateral thinker able to find ways to unlock the knottiest problems.
He is regularly instructed to advise in relation to questions of pensions-related taxation, including in relation to SSASs and SIPPs.
As a result of his long experience at the coalface of occupational pension schemes (including acting for the trustees of some of the UK’s largest pension schemes), Philip brings to his pensions practice:
- acute sensitivity to the practical challenges faced by pension scheme trustees and employers as a result of their different perspectives, and to the need to manage conflicts of interest arising from trustee roles pragmatically and to evaluate sensitively the pros and cons of court proceedings in relation to a matter;
- the ability to think “out of the box” and to originate and evaluate innovative approaches; and
- the willingness to work collaboratively and inclusively as part of a wider team, including not only trustee committees and employer representatives but also other legal advisers, actuaries and covenant advisers.
Content supplied by Outer Temple Chambers
Testimonials
Collated independently by Legal 500 research team.
- The clerks are attentive and always on hand to offer suggestions for Counsel. Matt Sale is excellent.
- The clerking for pensions is led by Matt Sale, in parallel with Nicholas Levett and Lexie Johnson - they are quick, responsive and reasonable and entirely approachable and collaborative. They are the easiest of clerks to deal with.
- Outer Temple is a pensions powerhouse. All the barristers in the pensions team are approachable and lovely to work with.
- They are user-friendly, commercial and act collegiately with instructing solicitors, in addition to being super switched on and tech-savvy.
- A go-to Chambers for pensions advice. Strength in depth at all levels for pensions.
- Outer Temple remains one of the best for pensions litigation work.
- Outer Temple's pensions counsel is particularly good - their training programmes are informative and topical.
- One of the two heavyweight sets on pensions. They have built a very successful team over the last decade, with great quality and strength in depth.
- OTC are a great pensions set. They offer a wide variety of counsel, and can suit any needs in any circumstances.