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Pension funds with legal personality: The pension fund with legal personality is an independent. legal entity created to manage a pension fund and is the same legal entity as the fund itself. Examples of. this type of pension fund construction are foundations or mutual associations. 5.
The trustees of a pension scheme are the people, acting separately from the employer, who hold the assets invested in the scheme for the benefit of the participants.onsider conflicts of interest. Trustees are there to act in the interests of the scheme members. These include those currently earning benefits under the scheme, and also those who have left or retired. If you do this, and put any conflicts of interest to one side, you are unlikely to go wrong.