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Max Lowry
Max Lowry, Advocate
Category: Law
Satisfied Customers: 1457
Experience:  LLB, 10 years post qualification experience
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i was made bankrupt 20 years ago i had 3 small pension assigned

Customer Question

i was made bankrupt 20 years ago i had 3 small pension assigned to my bankruptcy i am told now that i may not be able to receive my pension as there may still be debtors my pension pot is worth around 18 k
Submitted: 2 years ago.
Category: Law
Expert:  Max Lowry replied 2 years ago.
Hi, welcome to the site. My name is ***** ***** I will help you with your question. What you have been told is correct. The law pre May 2000 is I'm afraid clear. All rights under most pension policies which included private pensions (without a forfeiture clause) which were in existence at the date of the bankruptcy vested in their bankruptcy estate. This means the trustee could and can take the asset and use the funds realised for the benefit of creditors. All your rights which you had in respect of the pension at the date of bankruptcy would have vested in your trustee. The trustee is entitled to take payments which the pension/annuity pays out.
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Expert:  Max Lowry replied 2 years ago.
Please do let me know if I can assist further.
Max