The change, which applies to partners made up before 2005 under the firm?s old policy, means partners who have been in the equity for 15 years will now be entitled to a pension of about 17% of plateau profits for the five years after retiring. For partners of 20 years or more, that figure will increase to a cap of 23% or a financial limit of £276,000.”
Effectively, Clifford Chance partners who have been partners for 15 years could leave the mega firm in their relative youth - say, their mid 40s - on a handsome payout and then enter alternative gainful employment that could see them retire with the rest of us
