Discretionary decisions—what must pension trustees do?

Produced in partnership with Oliver Hilton of Radcliffe Chambers
Practice notes

Discretionary decisions—what must pension trustees do?

Produced in partnership with Oliver Hilton of Radcliffe Chambers

Practice notes
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THIS PRACTICE NOTE APPLIES TO TRUSTEES OF ALL PENSION SCHEMES

A power is a legal Authority conferred on a person to deal with, and dispose of, property which is not their own.

Most trust-based occupational pension schemes confer powers on their trustees. Statute also confers powers on trustees.

A power will give the trustees a choice or discretion. In relation to trusts, powers are generally either administrative or dispositive. Dispositive powers that are commonly found in pension schemes concern the provisions relating to Early retirement, Ill-health early retirement, death-in-service benefits, increase in benefits (including annual increases to pensions in payment and revaluations of deferred pensions), accepting transfers into the scheme and a surplus on winding-up. Schemes also usually include powers of amendment relating to the trust deed and rules.

Sometime the powers are vested unilaterally in the trustee. Other powers are held jointly with the employer or subject to the employer’s consent. There are also express and statutory limitations and restrictions on the exercise of powers, and schemes often prescribe the manner in

Oliver Hilton
Oliver Hilton

Barrister, Radcliffe Chambers


Oliver enjoys a busy and thriving traditional and commercial Chancery practice. His expertise is in trusts, wills and estates, with a particular focus on succession and property disputes, pensions and charities. He has substantial experience in dealing with a broad range of administration issues.

As well as non-contentious drafting and advisory work, Oliver has a strong litigation practice: he appears regularly in the High Court, including in large scale, complex, high profile cases; he has acted on numerous occasions before the Court of Appeal; and he has considerable experience representing clients at mediations. Oliver is equally at home acting as sole counsel or being led, and he particularly enjoys working as part of a wider team.


Experience and Expertise

Oliver specialises in trusts, estates and property disputes, especially contentious probate, breach of fiduciary duties, setting aside lifetime transactions, Inheritance (Provision for Family and Dependants) Act 1975 claims and real property related litigation, including constructive trusts, proprietary estoppel and co-ownership disputes (both in the commercial and domestic context) as well as personal property.

Oliver regularly advises and acts for trustees, personal representatives and beneficiaries on all issues that may arise during administration of trusts/estates/pension schemes, including questions of construction, distribution, the exercise of administrative and dispositive powers and Beddoe applications. He has gained a wealth of experience in drafting complex and intricate wills, trusts, pension documentation and associated instruments, as well as applying for variation of the same.

Oliver’s practice also includes dealing with the consequences of mistakes in relation to the creation of, amendments to and administration of wills, trusts and pension schemes, both in the context of rectification/rescission and removal from office.

Oliver's practice compliments his considerable expertise in pensions related matters, having acted and advised in relation to pensions liberation schemes, amendments to trust deeds, pensions administration, trustee disclosure, the winding up of schemes and the interaction between bankruptcy and pensions.

Oliver's trusts and estates expertise also encompasses charities and tax and professional negligence related matters.

A significant proportion of Oliver's chancery practice is commercial in nature. Fraud and asset tracing and recovery in particular form an important part of Oliver's practice. He also acts regularly in relation to company and shareholder disputes (including unfair prejudice petitions), partnerships, insolvency, business contract disputes, guarantees and finance related matters.

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Jurisdiction(s):
United Kingdom
Key definition:
Authority definition
What does Authority mean?

The public sector body procuring the project. This might, for example, be a local authority, an NHS trust, a central Government Department or a Non-Departmental Public Body.

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