One of the most topical issues of the day, pensions and the significance of pension funds in major corporate transactions has brought pension law to a new level of prominence in legal work.

Now attracting more column inches in the national press than is healthy, the ’pensions crisis’ has become a national obsession.

For those who choose to train in this practice area, the advent of pensions ’simplification’ and the significant changes under the Pensions Act 2004 and Finance Act 2004 present the opportunity to get in on the ground floor in an area of law that has been reformed almost beyond recognition. Trainees can expect to find themselves learning the new environment alongside their more senior colleagues.

What you can expect

While working hours will inevitably vary to meet the needs of the particular firm, these tend to be relatively stable and predictable.

Work tends to be more complex and deliberate than litigation and not as time-critical as corporate work.

Trainees who opt for a seat in pensions can expect exposure to a complex and evolving area of law, which overlaps with other practice areas including employment, corporate, insolvency and tax.

Trainees can expect to advise employers, trustees and their professional advisers about their duties under occupational pension schemes, including drafting scheme documentation, ensuring regulatory compliance, and dealing with pension disputes.

Skills for pension lawyers

You will need:

• to remain unfazed by an initially daunting learning curve
• patience and persistence
• the ability to research and make sense of primary and secondary legislation
• to embrace a challenging and varied workload.