Pre 2000 Bankruptcy Pension query

badenp

I was made bankrupt in 1991 and discharged in 1994. I had four pensions at the time, 2 paid up and two which I continued to contribute to as assigned to a then current mortgage. I made the third paid up a year or two later, the fourth I have continued to contribute to to the present day. I was told at the time that these pensions wouldn't be touched - obviously incorrectly.

Solicitors acting for the OR (Gowling WWLG) have been in touch wanting to realise the pensions. They have indicated that I should get back the value of my contributions.

1) My main concern is that if the pensions (£ 1k, £7k, £7k and £ 40k) are crystalized, this will trigger the Money Purchase Annual Allowance and severely limit my ability to contribute to my current (recent) pension policy to £10k or possibly £4k p.a.

Is this likely to be the case?

I'm considering trying to buy out the OR's vested interest if this is true. However, if it isn't, I would probably be better offer putting the money into my current pension an obtaining tax relief on this.

2) Also, regarding the value of the contributions I have made since the BO, is there any precent as to how this might be valued? At a minimum, this would be the value of the contributions I think but the correct valuation ought to be based on the current value, less the number of units held at the date of the BO and vested in the OR times their current value...

3) Does anyone have experience of recent negotiations with the OR on a similar basis and best approach to dealing with this matter?