What will happen to your pension in bankruptcy?
A trustee cannot usually claim a pension as an asset if your bankruptcy petition was presented on or after 29 May 2000, as long as the pension scheme has been approved by HM Revenue and Customs.
For petitions presented before 29 May 2000, trustees can claim some kinds of pensions. A separate leaflet called “What will happen to my pension?” is available from your local official receiver’s office.
If you are receiving a pension or become entitled to do so before you are discharged, the pension is included as income for the purposes of an income payments order (IPO)
Getting in touch with an insolvency expert for free debt advice is as easy as picking up the phone. Call the Leeds Debt Advice Helpline on free phone 0800 169 1536
If you would like to speak to one of our Leeds Money Advisers directly please call 0113 237 9503 or call to book a face to face meeting with an advisor or enter your telephone number and contact details in the box below and we will call you back as soon as possible.