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lindalou161
Starting Member
3 Posts |
 Posted - 13 March 2010 : 00:11:15
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HI new to these forums,I was made bankrupt in 1998 and had a personal pension with only about £6000 in it I thought the pension was lost.
I had my 50th birthday in october2009 and found some old paperwork last week relating to this pension and phoned the pension provider[pru]to see what had happened to it and lo and behold they still have it now worth £17000 I asked if I could get my 25% lump sum and put the rest into my works local authority pension scheme they said YES but on the notes there was mention of a bankruptcy but no one from the receiver had made a claim on it since my 50th birthday as they thought they might.My question is have the receivers forgone claim on it or will pension provider inform them I am. |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 13 March 2010 : 12:15:40
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| Bankruptcy changed in 2004 so I am not sure about this one. I would say that as it has been so long since you were declared BR that the receivers have foregone the claim. |
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Daniel Griffiths
Junior Member
United Kingdom
268 Posts |
Posted - 13 March 2010 : 14:14:04
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It was May 2000 when pension entitlement no longer was an assett in bankruptcy before this time it was seized by the trustee however certain schemes did not allow the trustee to realise the assett of the pension until the time when the assett was about to be realised by the bankrupt ie lump sum, drawings, which can be of course long after discharge. I am not in the office now till Monday to look this up as pre 2000 bankruptcies dont come up very often these days if I can be of further help I will post but perhaps another poster is more up on this.
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lindalou161
Starting Member
3 Posts |
Posted - 13 March 2010 : 14:15:07
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| Thanks for such a quick reply here's hoping that is the case and the pru does not inform them that I am making a claim on it myself. Do pension providers have to inform them or not plus will my husband not have a 1/2 interest in this pension -we are still together. |
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debtinfo
forum expert
2826 Posts |
Posted - 13 March 2010 : 14:17:06
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| yes they do have to inform the OR, that is why the OR puts a note on the file |
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Daniel Griffiths
Junior Member
United Kingdom
268 Posts |
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lindalou161
Starting Member
3 Posts |
Posted - 13 March 2010 : 14:34:50
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| thanks ,the link you gave me was a bit confusing looks like they will be informed and take all the lump sum but may be too a small pension for them to do this am I reading it right |
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givemestrength
Junior Member
United Kingdom
141 Posts |
Posted - 23 March 2010 : 07:55:55
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hi, sorry to jump onto this thread but my partner is in the same boat, he has a deferred LGPS pension and hasnt paid into it since 2002, we went BR feb 2009 and are now discharged, the OR stated they had no interest in it when he had his interview... anyway getting to the point he was 50 in 2008 and has a lump sum of around 17,000 and would like to take 25% to get back on our feet after the last year ... (paying for a solicitor to sort out his beneficial interest, home repairs, household items, etc) does anyone have any information on doing this, it would be great to know what happens in your case LindaLou.
thanks ,T |
Edited by - givemestrength on 23 March 2010 07:59:10 |
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pension
