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T O P I C R E V I E W
No Fun Man
Posted - 24 July 2008 : 10:25:31 Hi 12 Months down the road, and finding it difficult on what I am allowed, which I realise is only fair.
A few questions.
I am 64 and starting to think of retiring, can I at 65, with still a year to go on my bankruptcy?
The receiver sent me a letter saying he had no interest in my pension, but if I were to take my pension now (mainly to get my lump sum) would he require this and the monthly pension payment to be included? (I pay the reciever over £700 per month at the moment). Any help would be appreciated
5 L A T E S T R E P L I E S (Newest First)
Suzanne
Posted - 25 July 2008 : 14:09:12 No the OR has no power to make you find another job.
Any thoughts on retiring 1 year before the end of my bankruptcy? the company I work for has a compulsary retiremnt policy at 65.
On retirement I would be getting about £850.00 per month with my state pension and my private pension. (considerbly less than I am earning at the moment).
What would be the procedure with the reciever?
As stated previously this is a year away yet.
Thanks again
Suzanne
Posted - 24 July 2008 : 11:04:24 Hi
If you receive this lump sum before you are discharged then they will expect to receive this. Your ongoing pension payments will be taken into account as income and used in your income and payments calculation.
If you are really struggling then perhaps you should ask the OR to review your income and expenditure calculation.
You have probably been discharged, and you are now only subject to the Income Payments Agreement. However, this still mean you would have to inform them of any lumpsum
