diff --git a/lib/checkclass.cpp b/lib/checkclass.cpp
index 42c0a2e6f..f3e4e7fd0 100644
--- a/lib/checkclass.cpp
+++ b/lib/checkclass.cpp
@@ -1988,18 +1988,32 @@ void CheckClass::checkConst()
 
             // don't warn when returning non-const pointer/reference
             {
-                bool isPointerOrReference = false;
-                for (const Token *typeToken = func.retDef; typeToken; typeToken = typeToken->next()) {
-                    if (Token::Match(typeToken, "(|{|;"))
-                        break;
-                    if (!isPointerOrReference && typeToken->str() == "const")
-                        break;
-                    if (Token::Match(typeToken, "*|&")) {
-                        isPointerOrReference = true;
-                        break;
+                auto isPointerOrReference = [this](const Token* start, const Token* end) -> bool {
+                    bool inTemplArgList = false, isConstTemplArg = false;
+                    for (const Token* tok = start; tok != end; tok = tok->next()) {
+                        if (tok->str() == "{") // end of trailing return type
+                            return false;
+                        if (tok->str() == "<") {
+                            if (!tok->link())
+                                mSymbolDatabase->debugMessage(tok, "debug", "CheckClass::checkConst found unlinked template argument list '" + tok->expressionString() + "'.");
+                            inTemplArgList = true;
+                        }
+                        else if (tok->str() == ">") {
+                            inTemplArgList = false;
+                            isConstTemplArg = false;
+                        }
+                        else if (tok->str() == "const") {
+                            if (!inTemplArgList)
+                                return false;
+                            isConstTemplArg = true;
+                        }
+                        else if (!isConstTemplArg && Token::Match(tok, "*|&"))
+                            return true;
                     }
-                }
-                if (isPointerOrReference)
+                    return false;
+                };
+
+                if (isPointerOrReference(func.retDef, func.tokenDef))
                     continue;
             }
 
diff --git a/test/testclass.cpp b/test/testclass.cpp
index 11da78dc9..018dfaee1 100644
--- a/test/testclass.cpp
+++ b/test/testclass.cpp
@@ -193,7 +193,7 @@ private:
         TEST_CASE(const74); // ticket #10671
         TEST_CASE(const75); // ticket #10065
         TEST_CASE(const76); // ticket #10825
-        TEST_CASE(const77); // ticket #10307
+        TEST_CASE(const77); // ticket #10307, #10311
         TEST_CASE(const78); // ticket #10315
         TEST_CASE(const_handleDefaultParameters);
         TEST_CASE(const_passThisToMemberOfOtherClass);
@@ -6033,13 +6033,19 @@ private:
                       errout.str());
     }
 
-    void const77() { // #10307
-        checkConst("template <typename T>\n"
+    void const77() {
+        checkConst("template <typename T>\n" // #10307
                    "struct S {\n"
                    "    std::vector<T> const* f() const { return p; }\n"
                    "    std::vector<T> const* p;\n"
                    "};\n");
         ASSERT_EQUALS("", errout.str());
+
+        checkConst("struct S {\n" // #10311
+                   "    std::vector<const int*> v;\n"
+                   "    std::vector<const int*>& f() { return v; }\n"
+                   "};\n");
+        ASSERT_EQUALS("", errout.str());
     }
 
     void const78() { // #10315