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Jason Coates

London managing partner
Jason Coates

I'm a partner in the Pensions team advising trustees, corporates and industry bodies on all aspects of pensions law. I'm on the Legislative Parliamentary sub-committee of the Association of Pension Lawyers which reviews all new pension-related legislation.

Tel: +44 (0)20 7664 0316
Email: jason_coates@wragge.com

Services: Pensions

Best brains in...

Giving strategic advice to corporate and trustee clients in relation to significant events for their pension schemes such as corporate restructuring, scheme mergers and buy out transactions. Providing advice that requires technical excellence combined with tactical awareness.

Highlight of your career so far?

Every time we win! Winning a new client appointment or retaining an existing client when re-tendering is a new highlight every time, especially when we are up against our major City rivals! One example is our appointment as legal advisers to the trustees of the Group 4 Pension Scheme. Most challenging job you've ever done?

Leading an eight-lawyer team on the largest project that the Pensions team has ever done. We have been advising a major French listed company on a strategic project to change the benefits for its UK workforce, merge its UK pension schemes and manage its billion pound pension liabilities. This job is immensely challenging technically, logistically and tactically. It has been a real roller coaster experience for everyone involved and I am really proud of our contribution.

What about outside the UK?

Acting for a US law firm to provide it and its German client with pension law advice on a cross-border European deal. In addition to advising on the UK pension law aspects, we were asked to review and assimilate the advice given by local lawyers in other European jurisdictions. There was also the job where we had to set up a 'provident fund' in Cyprus, which was different!

Dedication to client care? Prove it!

I was appointed as legal adviser to the trustees of two pension schemes operated by a large convenience store operator in relation to a 'clearance application' to the Pensions Regulator, when a magic circle firm pulled out due to a conflict. Our client service and approach was described as 'a breath of fresh air' compared to the previous advisers. The trustees particularly liked our straightforward communication of a complex subject and being prepared to help them make difficult decisions. In fact, they were so impressed that they suggested that the company should consider Wragge & Co for other services.

Best example of a creative legal solution?

I advised the trustees of a hundred million pound pension scheme last year on an innovative agreement with the sponsor. It was the first (and possibly we think still the only) solution of its type following the introduction of the Pensions Protection Fund. It was difficult technically and the phrase 'we are in uncharted territory' became banned on the project after a while because it was becoming used too often!

How do you get under the skin of a client's business?

We have two ears and one mouth and we should try to use them in that proportion! It is very important to understand our client's perspective. It sets the scene for the legal advice and spending time with a client to understand the wider context is always helpful.

What's your single greatest contribution to Wragge & Co's corporate responsibility?

Running the Cardiff half-marathon to raise money for Barnados. I managed to raise quite a bit, which was great. Everyone in the firm was very generous and I managed to get a bit fitter in the process!

What's been written or said about you that you're most proud of?

'One of the thrusting partners of the future'! - Chambers UK.

But, I am most proud of the common theme of the client feedback I received for my leadership course at Ashridge Business School, which was 'trust'.

Alerts

14.12.11

Solvency II - what does it mean for UK pension schemes?

Solvency II is a European initiative that toughens the capital requirements for insurance companies in a bid to make them more secure and better able to withstand market 'shocks'.

10.12.09

Time to act!

The minimum age at which members may take their benefits is to increase from 50 to 55. Introduced by the Finance Act 2004, the changes will take effect on 6 April 2010.

02.02.09

Reclaiming tax from the Netherlands

UK pension funds which received dividends from Dutch companies on or before 31 December 2006 can now reclaim tax that was withheld on those dividends by the Netherlands tax authorities - claims will be possible for tax withheld as far back as 2003.

05.08.08

New money laundering registration guidance: HMRC clarifies position for trustees of occupational pension schemes

On 31 July 2008 Her Majesty's Revenue & Customs published updated guidance on the registration requirements for Trust or Company Service Providers (TCSPs) and Accountancy Service Providers (ASPs) under the new Money Laundering Regulations.

21.04.08

Transfer values: new regulations published

The Occupational Pension Schemes (Transfer Values) (Amendment) Regulations 2008 were published on 11 April 2008, and are due to come into force on 1 October 2008. Wragge & Co's legal experts analyse what this could mean for you and your organisation.

11.03.08

Pensions Regulator issues guidance on conflict of interests

The Pensions Regulator has published draft guidance on conflicts of interest.

18.10.07

Companies Act 2006: implications for pension schemes

The Companies Act 2006 is the largest piece of legislation ever passed by Parliament. The Act is intended to simplify and modernise company law rather than to make wholesale changes to the current law.

31.08.07

Pensions Act 2007

Pensions continue to be subject to legislative change. After what was at times a somewhat acrimonious Parliamentary process, the Pensions Act 2007 (PA07) finally received Royal Assent at the end of July.

25.07.07

Governance: the Regulator's 2007 survey

While the Regulator continues to develop governance good practice guidelines, it is keen to understand what schemes are actually doing governance-wise on the ground. To this end the Regulator has published its second annual governance survey.

22.05.07

Regulator's guidance on abandonment of DB schemes

The majority of DB schemes have a deficit on the buy-out basis. This has led some employers to explore ways in which they can reduce or manage this funding risk.

08.02.07

Freedom of information: what should authorities do?

The Information Commissioner has determined that Hertfordshire County Council should disclose information about its pension scheme's private equity investments in accordance with its Freedom of Information Act 2000 obligations.

08.02.07

Freedom of information: an opportunity for LGPS contractors?

The Information Commissioner has determined that Hertfordshire County Council should disclose information about its pension scheme's private equity investments in accordance with its Freedom of Information Act 2000 obligations.

26.01.07

Incentivised transfers and other inducement offers: Regulator and HMRC guidance

The majority of defined benefit schemes are in deficit on some basis. For most schemes the bulk of the deficit relates to past service benefits. Recently employers have looked for innovative ways to reduce past service liabilities.

03.01.07

Regulator's discussion paper on abandonment of DB schemes

The large majority of DB schemes have a deficit on the buy-out basis. As a result some employers have started exploring ways in which they can reduce or manage this funding risk.

13.10.06

Age discrimination: pensions aspects take two!

The pensions aspects of the Age Discrimination Regulations were due to come into force on 1 October 2006.

19.06.06

Age discrimination and pensions: is 1 October 2006 another A day?

From 1 October 2006 the Age Regulations will come into force and it will be unlawful for:

17.01.06

Pensions Act 2004: could you be a cross-border scheme?

New cross-border requirements came into force on 30 December 2005. Broadly speaking, trustees must not accept contributions from an employer in relation to active members (other than certain seconded employees) who work in another EU member state.

06.01.06

Scheme funding: Code of practice and regulations

New scheme funding requirements came into force with effect from 30 December 2005. These requirements apply retrospectively to any scheme valuation with an effective date later than 22 September 2005 and signed off after 30 December 2005.

06.01.06

Scheme funding: how the Regulator will regulate defined benefit funding

New scheme funding requirements came into force with effect from 30 December 2005. These will apply retrospectively to any scheme valuation with an effective date of later than 22 September 2005 and signed off after 30 December 2005.

13.07.05

Pensions Act 2004: the changing relationship between employer and trustees

The Pensions Act 2004 (and in particular the approach of the new Pensions Regulator) changes the relationship between pension scheme trustees and employers quite significantly.

15.03.05

'Notifiable events' The Pensions Act 2004

From 6 April 2005, trustees and employers will find themselves under an obligation to notify the Regulator in relation to a wide range of events.
 

Press releases

15.07.10

Wragge & Co Pensions team wins £1.5 billion scheme client

Wragge & Co's award-winning Pensions team has been appointed as the main legal adviser to the trustees of the £1.5 billion ICL Group Pension Plan of Fujitsu Services and Fujitsu Services Common Investment Fund.

13.01.10

Wragge & Co appointed to advise trustees of £600 million Steria pension schemes

Wragge & Co LLP's Pensions team has started 2010 with a client win. It has been appointed sole legal adviser to the trustees of the £200 million Xansa Pension Plan, one of the defined benefit plans of global IT services provider, Steria.

31.07.09

Wragge & Co pensions experts appointed to advise the Thales UK Pension Scheme

Wragge & Co LLP Pensions team has been appointed sole legal adviser to the trustee of the billion pound Thales UK Pension Scheme. The scheme was created following the merger of eight Thales group schemes in July 2008.

21.07.09

Wragge & Co Pensions team appointed to advise £1.05 billion G4S Pension Scheme

Wragge & Co LLP Pensions team has been appointed as legal advisers to G4S Trustees Limited, trustee of the G4S Pension Scheme. The defined benefit occupational DB scheme includes assets of more than £1 billion.

31.03.09

Wragge & Co Pensions team wins £600 million trustee client

Wragge & Co LLP Pensions team has been appointed to advise the trustee of KPMG's £600 million UK pension schemes. The two schemes - the KPMG Staff Pension Scheme and the KMG Thomson McLintock Pension Scheme - include more than 12,500 members.

07.01.09

Wragge & Co pensions experts appointed to advise Fujitsu Comparable Pension Scheme

Wragge & Co LLP Pensions team has been appointed to advise the trustees of the £120 million Fujitsu Comparable Pension Scheme. The scheme is Fujitsu Services' primary pension vehicle for employees joining under TUPE regulations.

18.07.08

Wragge & Co named European Pensions Law Firm of the Year

Wragge & Co LLP is the European Pensions Law Firm of the Year. The firm saw off strong competition from UK and international firms to secure victory at the first European Pensions Awards ceremony last night.

18.05.07

Wragge & Co wins FT pensions award

Wragge & Co LLP has been named pensions law firm of the year at the FT Business Pensions and Investment Provider Awards.

23.04.07

Pensions specialist joins Wragge & Co

Wragge & Co LLP's Pensions Team has underlined its commitment to growth in London with a new appointment. Sacker & Partners LLP partner Jane Kola is to join Wragge & Co's 32-lawyer Pensions Team as a director from August 2007.

19.04.07

Wragge & Co boosts Pensions Team with new partner

Wragge & Co LLP has boosted its pensions credentials with the appointment of a new partner. Paul Feathers has been promoted to the firm's partnership, taking the total number of pensions partners to six. He will be based in the firm's London office.

23.01.07

Sea-change in the pensions market: the greater the challenge for trustees

Upheaval in the pensions industry continues, creating new challenges for trustees. In January 2007, Wragge & Co LLP and Paternoster led a round table discussion with independent trustees to discuss the 'new' pensions world.
 

Published articles

14.05.09

Pensions Buy-Out: Deal or no deal?

This paper considers the buy-out process from the perspective of trustees of UK occupational pension schemes. It considers the decisions faced by trustees and the legal factors which trustees need to consider before and during the buy-out process.

10.04.08

Changing with the times

The more things change, the more they stay the same. This is certainly true of pensions. No longer is it the sleepy backwater of the financial world, but it continues to be high profile with new developments worthy of leading articles in the press.

 

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