"Trust": 1. UK Law and pensions. A legal concept whereby property is held by one or more persons for the benefit of others for the purposes specified in the trust deed. In a pensions context, the beneficiaries of the trust are the members of the pension scheme. 2. US. A large organisation that has control - or attempts to gain control - of a market by the use of monopoly or other anti-competitive trade practices. 3. More generally, the belief that someone or something is reliable, honest, good.