Is it possible to set up a pension for the benefit of another person but which is under the control of a trust ?
The situation might be where the pension beneficiary would be likely to borrow heavily on the surety of pension income and get into trouble if the pension was his own rather than one "owned" by a trust. As the trust payouts are discretionary the beneficiary would not be in receipt of sufficiently secure income with which to secure a loan to buy property, invest in risky shares, etc.
The situation might be where the pension beneficiary would be likely to borrow heavily on the surety of pension income and get into trouble if the pension was his own rather than one "owned" by a trust. As the trust payouts are discretionary the beneficiary would not be in receipt of sufficiently secure income with which to secure a loan to buy property, invest in risky shares, etc.