Pension help

Help_needed

Hi guys

A friend on mine is thinking about going bankrupt and has a pension question i cant answer.
Can any one help??

She have just retired and her husband is going to retire in about a years time.
How will BR affect there pension?
Will the OR have an interest in it at a later date?

I hope this makes sence

maxmycardagain

what pension, state or private?

Help_needed

Both.

I think he will be able to take a lump sum if he wanted to but that would only pay off half there debt.
I thought he would be better off just taking it all as pension and no lump sum. i dont no if the Or could enforce the issue.

I dont realy no the in's and out's of pensions???

Would they have to do 2 SOA or can a couple do a joint form???

philnicandamy

Help_needed wrote: »

Both.

I think he will be able to take a lump sum if he wanted to but that would only pay off half there debt.
I thought he would be better off just taking it all as pension and no lump sum. i dont no if the Or could enforce the issue.

I dont realy no the in's and out's of pensions??? Bit of a read here

http://www.insolvency.gov.uk/pdfs/guidanceleafletspdf/pension.pdf

Would they have to do 2 SOA or can a couple do a joint form??? Unfortunatley NO...seperate forms & 2 lots of BR fees

Just a few thoughts