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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 in 1994 and as a result of this apparently

Customer Question

I was made bankrupt in 1994 and as a result of this apparently a hold was put on my private pension plans. I am now 67 and trying to claim my pension. Can they take only what this was worth at 1994 or can they take the interest that it has made since then.
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. The OR can actually take what the pension is worth now. The government decided this even though it is morally wrong.
I know it's not great news but I have a duty to tell you the true position.
Please let me know if I can assist further.
Customer: replied 2 years ago.

I have received a payout from one of my pensions already can they make me repay it.

Expert:  Max Lowry replied 2 years ago.
I'm afraid that your suspicions are correct. They will make you repay the money you've received.
Customer: replied 2 years ago.

part of it was protected rights do I get to keep that

Expert:  Max Lowry replied 2 years ago.
If you have full protected rights the pension does not vest in the OR. If your pension is part protected rights then the OR is entitled to just a proportion of the pension.
I hope this helps.
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