Specialist pensions law firm Arc Pensions Law has a new managing partner, Rosalind Connor, who succeeds co-founder Chris Mullen.

Rosalind has law in her blood: her grandfather was a lawyer and her father a retired law professor, although they did not influence her choice of profession. On what attracted her to pensions law, Rosalind commented:

“You spend most of your time helping people frame the environment in which they make decisions, helping people deal with risks and difficulties. Something we forget in our industry is how important pensions are. A civilised society should provide the dignity of a decent income to old people. We are all part of the world that is trying to make sure that happens.”

During lockdown, Arc did not need to furlough anyone, given the frenetic pace of change within the industry. “A few people are now back in the office,” she said.

The long time frames involved in pensions mean business is almost back to normal, except for the increasing amounts of work seen primarily in an economic downturn, such as advice around redundancy, distressed businesses, scheme closures and litigation.

The ramifications from the pension schemes bill and the defined benefit funding code “each of which on their own would be a radical change” keep Rosalind busy. She further commented:

“Right now, I would really love the government to take a very long hard look at the pension schemes bill. There were some very damning points made in the House of Lords,” she said of the new criminal offences.

“Frankly, in a free democracy, I don’t think you should have a law that is so broadly drafted that it catches vast numbers of perfectly normal, and in fact often very good, things being done. We shouldn’t be relying on the government saying, ‘don’t worry, we won’t use it very often’.”

“I really think it will cause so much damage to businesses that have pension schemes. People will be frightened to do business with them because of the risk of going to prison for seven years.”

On the future of Arc Pensions Law, Rosalind commented:

“At the outset, we all acknowledged that there was a significant risk it wasn’t going to be much of a success.”

“For all we knew, the pensions industry was far too staid to cope with a new law firm. That hasn’t happened. We are now eight partners and nine associates.”

“Over the next five years I hope the company will grow a little more and complete the transition from new, exciting start-up law firm to an established name”.

Read Rosalind’s full interview in Pensions Expert.