Pensions themselves are exempt from bankruptcy, but you will not be able to make payments into any plan for teh duration of the bankruptcy (max 12 months) as in effect this is a savings scheme. Contact you pension provider and 'freeze' the payments this way you will be able to recommence payments once you have received your discharge without losing the 'pot' The above advice does not refer to pensions through your employer which are deducted at source through your income and form part of your employment contract - in such cases you are allowed to continue payments into the scheme - but not 'private' pensions you have set up yourself
Hope this clarifies matters
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles email me at melanienicholas@jonesgiles.co.uk
Pensions themselves are exempt from bankruptcy, but you will not be able to make payments into any plan for teh duration of the bankruptcy (max 12 months) as in effect this is a savings scheme. Contact you pension provider and 'freeze' the payments this way you will be able to recommence payments once you have received your discharge without losing the 'pot' The above advice does not refer to pensions through your employer which are deducted at source through your income and form part of your employment contract - in such cases you are allowed to continue payments into the scheme - but not 'private' pensions you have set up yourself
Hope this clarifies matters
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles email me at melanienicholas@jonesgiles.co.uk
Thanks for that Melonie currently the commercial property is rented out at £1333 per month this covers the mortgage repayments - how do you think that would affcet things - would the rent be a "contributionb"
Hi Peter and welcome to the forum, I'm sure you will get some good advise here, Your problem seem's to be a bit of specialised one, It may be worth giving the help line a call,someone maybe able to help further.
I have a Self Investment Pension Plan (SIPP)
Posted - 19 October 2009 : 16:32:46
