I'm a director in the Wragge & Co Pensions team, where I have special responsibility for the trustee governance team.

Tel: +44 (0)121 260 9834

Email: vivien_cockerill@wragge.com

Best brains in ...

I lead the trustee governance team responsible for leading our thinking on governance issues and trustee support and training, as well as being responsible for clients. I have helped various clients to improve their governance arrangements and move to a risk-based approach to managing their pension schemes.

What is the highlight of your career so far?

Uncertainty created by volatile share markets and rising longevity means that many companies are looking to hive off their defined-benefit pension funds. I advised the trustees of two Emap final-salary pension schemes on a landmark buyout deal with Paternoster. The FT described the deal as "the first of its kind", while The Times business editor said, "The Emap pension buyout is a milestone. Suddenly, large and thoroughly solvent companies are considering offloading their pension assets and liabilities." Under the deal, Paternoster has taken on all financial responsibility for the schemes. Emap and the trustees achieved their objectives over a very short time period and the members received an immediate improvement in the security of their benefits.

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

Last year, after working closely with trustees for many years, I became a trustee of the Mineworkers' Pension Scheme. The scheme is fantastically well supported and aspires to be at the forefront of the highest standards of trustee governance. I now have even more sympathy with our trustee clients' difficult balancing act of having legal responsibility but little if any day-to-day involvement in the running of the scheme.

Trusteeship is not a full time job and the Pensions Regulator has emphasised many times that it does not want to discourage lay trustees, but with the huge volume of regulation it is easy to see why some commentators think most schemes will eventually be run by professional trustees.

Best example of a creative legal solution?

The Emap deal would be a very good example of challenging conventional thinking to get the best result for all concerned. I also led the legal support to the Pensions Regulator on developing its e-learning trustee toolkit. This is a fantastic, free, scenario-based training tool for trustees, which will help them improve their knowledge and understanding, and help them meet their obligations.

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

I have been a voluntary adviser for the Pensions Advisory Service TPAS for many years. I wanted to do some voluntary work and, while it's not as glamorous and exciting as trekking in the Himalayas or some other Wragge and Co initiatives, it's an area where my experience gives me special skills. It is a great feeling when you can help a member finally to understand his pension entitlement or to convince a pension scheme to take a member's claim seriously. TPAS helps members of the public who could never afford professional fees.

I also was a member of the TPAS Board for six years and on a sub-committee which was charged with updating its governance structures in line with the combined code and the Nolan principles.

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

It is great to be recognised in independent directories like Chambers UK, which says, "The 'excellent' Vivien Cockerill is prized by clients for her 'decision-making skills and unequivocal advice'. Considered a 'robust negotiator', her diplomacy and practicality have made her popular among her peers."

But, I am most pleased by this from Rosemary Kennell from Aspen Trustees Limited in relation to the Emap deal. "Wragge & Co has provided a first-class professional service in supporting the trustees through some very complex and challenging issues. This deal is a first, which has taken a lot of creative thinking and commitment from our advisers to make it happen." Everyone involved in the transaction put a lot of hard work into making it happen and the client was pleased with the result.