Pension and Pre May 2000 Bancruptcy

iJamgar

Hi not sure if this should be here or in the Bankruptcy forum but I think it's more a pension related question.
My bankruptcy was in March 1997 and as part of that there was a personal pension which at that time didn't amount to very much I think.  It's now 23 years later and it's not done much better but as per the rules pre May 2000 the trustee in bankruptcy (TiB) has an interest in it.  It's now worth approximately 8K (£8017 to be exact as of today) and the TiB wants to take all of the money in that pension.  Don't think there is anything I can do about contesting it and to be fair I was bankrupt so I think it is any remaining creditors money.  However I don't want to retire as it has taken a long time to rehabilitate my finances and build up a still too small pension I took out after my discharge.  If the TiB forces me to take this pension will it trigger the MPAA and thus affect my ability to invest in my current pension?  Really could not come at a worse time as I will hopefully be in a position to use the pension allowance over the next few years (couldn't before) so really do not want to be limited to only investing £4000 (approx) per year going forward, better late than never.
Any pointers in the right direction anyone can give would be great on what affects this would have or any options that are possible would be much appreciated.

IJ

Brynsam

iJamgar said:

If the TiB forces me to take this pension will it trigger the MPAA and thus affect my ability to invest in my current pension?  Really could not come at a worse time as I will hopefully be in a position to use the pension allowance over the next few years (couldn't before) so really do not want to be limited to only investing £4000 (approx) per year going forward, better late than never.

The good news is that no, it won't trigger the MPAA if you take the whole lot as cash on the basis it is a 'small pot' (i.e. under £10,000). Make sure the pension provider knows that is the basis on which you wish to take it.

iJamgar

Thanks Brynsam, that's good news.  I think my next step is to talk to both TIB and pension provider.