Pension after Bankruptcy

Amanda0909qa

I’m due to be discharged from bankruptcy on 15th April. Can you tell me if I’d be allowed to take early pension it will be a lump sum and a monthly payment of a pension. It’s a civil service pension and as I’ve now turned 50 I’m allowed to do this. Are there any restrictions on this? Do I have to wait so long after discharge to be able to take it? Grateful for any advice please.

TripleH

I don't know exactly. I would check with your trustee 'indirectly' to be safe.
By thus I mean get them to confirm 'in writing' that once you are discharged, they won't have any interest in any accrued pension benefits without you mentioning any intention to take a lump sum benefit. You could ask them what exactly the rules are for your peace of mind, again without mentioning any plans etc.

mwarby

do you have an IPA in place ? if so it could conceivably be counted as income, if not come April 15th your free and clear (check the jnsolvency register says discharged)