ABSTRACT
Most pension schemes are established under irrevocable trusts, and, indeed, it is of course essential that they should be to obtain exempt approved status. The trust law is the foundation of pension scheme arrangements (see the discussion in Chapter 2). The law governing the role of trustees, their appointment and removal is to be found in either: (a) the pension scheme documentation; (b) the legislation, in particular the Trustee Act 1925, the Trustee Investment
Act 1961 and the Pensions Act 1995; (c) court decisions; (d) the appropriate subordinate legislation.
