A Scottish court has given pension trustees clarity as to when they can access the protection of immunity or indemnity clauses found within a trust deed, as well as the meaning of ‘gross negligence’ in this context. The Inner House of Scotland’s Court of Session was ruling (20 page / 536KB PDF) in a case that considered whether the corporate trustee of a non-associated multi-employer pension scheme was entitled to the benefit of an indemnity under the rules from the scheme assets.
