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 please tell me if we will lose our pension plans?
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Starting Member

United Kingdom
27 Posts

Posted - 27 July 2009 :  22:13:41  Show Profile  Reply with Quote
Thank you Frosie and Jan,

For information on the Armed Forces Pension Scheme I found the following:

61.32 Armed Forces Pension Scheme

The Armed Forces Pension Scheme (which administers pensions schemes for the Army, Royal Air Force and the Royal Navy) does not have a clause which prevents the trustee in bankruptcy from claiming the member’s benefits. The exception to this is a pension awarded under the Naval, Military and Air Forces Etc (Disablement and Death) Services Pensions Order 1983 [SI1983/833, as amended] where a member of the armed forces was injured in the course of duty and awarded a disablement benefit. The official receiver should not claim these benefits.

The Ministry of Defence consider that the trustee is prevented from claiming a pension because of a general non-assignment clause unless an income payments order is obtained. The official receiver should maintain the position that the pension vests in the trustee without the need for a further order. Where benefits under the Armed Forces Pension Scheme are paid to an undischarged bankrupt, the official receiver should make application to the court for an income payments order if the bankrupt is a suitable candidate for such an order.

Lets see what happens - either way I am sure the OR the OR will let us know.

things . . . can only get better
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Junior Member

285 Posts

Posted - 27 July 2009 :  22:42:43  Show Profile  Reply with Quote
Yep, good way forward. Good luck Samantha. Keep us in touch with how you get on.
Best wishes
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Starting Member

United Kingdom
27 Posts

Posted - 28 July 2009 :  07:15:57  Show Profile  Reply with Quote
And then I found this:

The Welfare Reform & Pensions Act 1999 Part II section 11 states:-

Part II deals with pensions and bankruptcy and is important as section 11 of the WRPA provides statutory protection for an approved scheme, whether being an occupational pension scheme, personal pension or retirement annuity policies (RAPs) by excluding members pension rights from their estate on bankruptcy.

11 Effect of bankruptcy on pension rights: approved arrangements
(1) Where a bankruptcy order is made against a person on a petition presented after the coming into force of this section, any rights of his under an approved pension arrangement are excluded from his estate.

things . . . can only get better
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New Member

United Kingdom
90 Posts

Posted - 28 July 2009 :  08:22:39  Show Profile  Reply with Quote
This looks good for you,I think I wish I could find out more re mine,which is an occupational superann, similar to a civil service pension. I had hoped to use my lump sum of £60,000 towards half of small property with a friend to give me security in retirement.
I went BR in April and the phone calls and hassle stopped once I informed creditors. I am in an IPA for 3yrs
However I do get conflicting advice re lump sum pension. First expert advised me to go BR to protect the lump sum, then some posts on here quote Insolvnecy guidance /regs which say MAY take the lump sum or part of it. (No explanation of when the MAY is)
OR told me definatley though that once BR finsished and Discharged they are not interested in any windfall /lump sum She was also definate that the Trustee/IPA only wants to know about increased monthly income I wish I could find out for sure so that I can settle my mind and plan There is no point in taking early retiremnet, getting aprop onpy to find thathe trustee wants me to sell or puts a charge.

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Starting Member

United Kingdom
27 Posts

Posted - 31 July 2009 :  10:04:37  Show Profile  Reply with Quote
It's so complicated isnt it Ripski, there are so many uncertainties, like you say, it would be good to know once and for all the facts, but the legal jargon is so ambiguous in places. We are just resigned to knowing we have to do this regardless, so plan for the worst and hope for the best. I have just spent a few days visiting close family, and informed them so they understsand the change of numbers, move etc, although supportive, their horror at what lays ahead, and fear for us has quite freaked me out. It's reassuring to get back and read through other peoples posts and feel less lonely. Thanks everyone again for your help and advice

things . . . can only get better
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