(This archived guidance relates to HMRC discretionary
practice before the 6th April 2006. For current guidance on
Registered Pension Schemes see the Registered Pension Schemes
Manual)
The Trustee Investment Act gives trustees certain statutory
powers of selecting investments. The trust deed will normally say
how scheme moneys are to be invested and may either widen or
restrict these statutory powers. The documentation of an earmarked
scheme or individual arrangement normally restricts the trustees to
investment in insurance policies. In a common trust fund, however,
they generally have very wide powers of investment.
