Tom McNaughton

Tom McNaughton

Baker & McKenzie Services Limited


Tom is a senior associate in the Pensions Department and joined Baker McKenzie in 2012. Tom is a member of the Association of Pensions Lawyers (APL) and sits on the APL's Education & Seminars Committee. He is a regular speaker on pensions issues both to clients and fellow advisers.

Tom is also part of Baker McKenzie's wellbeing group (BakerWellbeing).

Practice Focus

Tom advises both pension scheme trustees and their sponsoring employers in various industries, with particular experience in relation to industry-wide schemes. He covers a variety of areas including advising in relation to pension scheme mergers, de-risking exercises, corporate transactions and re-organisations, scheme benefit redesigns and restructurings (including closures to accrual and other liability management exercises). He also advises on a number of contentious matters as part of the Pensions Department's pensions disputes practice.

Representative Legal Matters

  • Advising the Trustee of the Merchant Navy Officers Pension Fund on the GBP 1.2 billion buy-out of a section of the Fund with two leading insurers and subsequent benefit changes including closure to defined benefit accrual and the establishment of an industry-wide defined contribution arrangement.
  • Advising a leading technology company on court proceedings relating to the interpretation of pension scheme indexation rules.
  • Advising on the pensions issues associated with Brexit-driven cross-border mergers.
  • Structuring and implementing a complex scheme consolidation project including contingent assets, asset backed funding structures and cash conservation arrangements to manage employer pensions credit risk. 

Professional Associations and Memberships

  • Association of Pension Lawyers - Member
  • Association of Pension Lawyers - Member of Education & Seminars Committee


  • England & Wales~United Kingdom (2009)


  • BPP Law School (LPC) (2007)
  • BPP Law School (GDL) (2006)
  • University of Cambridge (M.Phil) (2005)


Co-author, "Creative funding strategies: Challenges and opportunities for scheme sponsors and the modern trustee," Pensions Age, March 2019 

Author, "PPF entry: The risk of overseas insolvency post-Olympic Airlines," PLC, October 2018

Author, "Abolition of DB contracting-out -- possible headaches for industry-wide schemes," PMI News, March 2015


Speaker, "I'm a UK sponsoring employer, get me out of here (re-visiting some potential issues on corporate restructuring in light of Brexit)," Association of Pension Lawyers Summer Conference, June 2018