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Bankruptcy - Forgotten pension
OBG
Posts: 27 Forumite
A friend of mine was made bankrupt in 2008 and discharged in 2009.
He has now been made aware that he had a private pension that he had forgot about that is valued today at £52,000.
The pension was started in 1991.
Can a claim still be made against this pension today?
Kind regards
He has now been made aware that he had a private pension that he had forgot about that is valued today at £52,000.
The pension was started in 1991.
Can a claim still be made against this pension today?
Kind regards
0
Comments
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A friend of mine was made bankrupt in 2008 and discharged in 2009.
He has now been made aware that he had a private pension that he had forgot about that is valued today at £52,000.
The pension was started in 1991.
Can a claim still be made against this pension today?
Kind regards
Pensions are not normally included in Bankruptcy.0 -
If the pension is an HMRC approved one (and I believe almost all are) then his pension pot is not treated as an asset in bankruptcy. However, if he is paying an IPA and is receiving (or about to receive) an income from the pension then the pension income will be classed as household income (same as wages) and will be included in the IPA calculation.0
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