I may have to declare myself bankrupt due to loosing my job recently, however i have SIPP investments and now a frozen company pension. How will the bankruptcy affect these?
The investments may have to go but as regards the pension it may depend on when you were due to receive it.
Hopefully someone on here can advise further.
Ascend may you find no resistance Know that you made such a difference All you leave behind will live to the end The cycle of suffering goes on But memories of you stay strong Someday I too will fly and find you again
Your sipp and company pension should be exempt from your bankruptcy estate.
From what I can make out, you should get your sipp frozen as well, as you won't be able to make contributions to this during your bankruptcy period (usually 12 months). This would be because your sipp would be seen as a savings policy.
Let us know how you get on.
Anyone else, feel free to add, especially if I've got anything wrong.
-------------- Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated. Professional advice should always be sought.
How will bankruptcy effect SIPP investments and a frozen company person ?
Posted - 14 July 2012 : 18:23:56
