The reason that a review of the role and contribution of the law of trusts to the law relating to pensions is important is because in 2004 alone there were 927 billion worth of private pension funds under management in the UK, holding 16 per cent of the domestic ordinary share market, which is the largest in Europe and third largest in the world (Slattery and Nellis, 2004).Today pension funds of several British Corporations run into larger amounts athat their own market capitalisation (Slattery and Nellis, 2004). The law relating to pension schemes is derived from the old trusts law(sometimes even dating back to the eighteenth century). Cooper, D.R. (2000) .
Even though the courts have recognised the different nature of pensions as compared to traditional trusts it seems that there are still gaps in t ...Show more