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Army Pension / bankruptcy
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Morfx
Posts: 127 Forumite
Evening,
I can't seem to find any details on this.. can anybody help?
I served in the forces for 10 years and when I left my pension would be worth around £300 monthly from when I'm 65..
Do I also lose this within BR?
I can't seem to find any details on this.. can anybody help?
I served in the forces for 10 years and when I left my pension would be worth around £300 monthly from when I'm 65..
Do I also lose this within BR?
0
Comments
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Are you getting any pension payments now?0
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Pensions are safe in bankruptcy unless you are eligible to claim that pension at the time you go bankrupt.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter1
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No payments being received at the moment, I've another 15 years before I can claim it..
Was just wondering if they are protected from BR..?0 -
As Sourcrates said, your pension will be protected.
If you were receiving payments from it now (or were eligible to do so) then they would regard it as income.1 -
It needs to be an HMRC approved pension scheme, and Armed Forces one will be1
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