If a bankruptcy order is made on a bankruptcy petition presented on or after 29 May 2000, all pension schemes that have been approved by HM Revenue and Customs remain outside a bankrupt's estate. This means they cannot be claimed by the trustee in bankruptcy. This follows the introduction of the Welfare Reform and Pensions Act 1999.
If your pension scheme is unapproved, you may still be able to exclude it from your bankruptcy estate by applying to court for an exclusion order or by making a qualifying agreement with your trustee. This is something to discuss with your trustee.
Pension contributions can continue under your existing pension arrangements or under new pension arrangements made after the bankruptcy order.
You can also Contact Us for any information you may have about bankruptcy and we will be happy to advise you.
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