Pension Enquiry

Sunnylooloo

Hi

Can someone explain to me how your pension is effected by BR

For example if at todays date my CETV of my pension is worth say £25,000 what happens to it in BR.

Also my ex is looking for half of this value so what happens if I am made BR before my financial settlement is reached will the OR have control over my pension and ex will not have a say, or will he still be entitled to half?

Hope that makes sense.........??

Thanks
LL
xx

debtinfo

Hi sunny,

Most pensions are exempt from the bankruptcy and so the OR does not have control over them, therefore i would imagine it would be down to whatever the judge decided in the financial settlement.

The only exception is if you were to take the lump sum during the bankruptcy at which time as it it would then be cash (rather than a pension) the OR can claim it

sizzler

hi sunny,

hope you ok:)

As debt info says most pensions are exempt from BR, unless you get a cash lump sum during BR.

Sizz:)

Sunnylooloo

Thanks so much for that

xx