The legal institution of trust, as developed and utilised
within the law of equity and trust in England, played an important role in
social and financial spheres where the common law (and civil law systems) could
not provide a flexible, efficient framework for protection of the interest of
third parties (beneficiaries). Trust played a pivotal role in financial service
globally, including investment and pension funds. However, rapid technological
developments are also significantly impacting financial services in terms of
making the intermediaries surplus. This article delves into the potential
displacement of conventional trust schemes, which play a central role in
governing pension funds in the UK, by emerging technologies. After having
examined the structure and regulation of UK occupational pension schemes,
focusing on pension trusts, the article first assesses the impact of new
technologies on pension funds to understand if these technologies can achieve
the same advantages carried out by trust in the management of such funds;
secondly, the article highlights a possible use of such new technologies on
pension trust, emphasising in any case the need for a balanced approach between
technological advancements and the structure of pension trust. Additionally,
the article explores the application of this approach to the management of
Italian pension funds, offering a comparative perspective.