On The Legal Regulation Of The British Pension Trust

Trust, as a special property management system, roots from Equity of Britain. The introduction of trust mechanism to the pension management is contributive to the preservation and increment of the value of pension. Pension trust is defined as a system which runs the cumulated pension in a fiduciary way to keep and increase the value of the pension. The distinguishing features of pension trust, including rights and interests separability, exclusive property, social welfare nature, long-term programming, professional, etc., makes it a widely used mode of pension management in many countries. In Britain, the pension trust system and relating legislation is well developed. Strong legal support is given to keep the pension trust system developing healthily.Currently, pension system of China is in an important and expanding period. The pension's structural pattern of the combination of social pooling and individual account requires the preservation and increment of its value. And adopting trust mechanism to manage pension might be a feasible option. Regarding to this aspect, the experience of Britain in legal regulation of pension trust is very enlightening for China. China should choose the a correct supervising mode for its pension trust, enforce the regulatory legislation of the pension trust investment, perfect the supervising subject of the pension trust investment and strengthen its inspection on the trustees and intermediary organizations. Apart from that, the audit supervision and social supervision also need improvement.