I am still paying towards a pension. Can they take the money from my pension fund if I go bankrupt?
HMRC approved pensions are ringposted in bankruptcy and cannot be touched. This applies for pensions taken out in England and Wales, but not for those who have pensions in the Republic of Ireland and a number of the other EU member states.
There was legislation being considered at one point that might have obliged those in their early to mid 50s to hand over part of their pensions at age 55, but this was rejected by the Lords.
Feel free to call us on 01425 600129 with any other questions or for bankruptcy help. Questions may also be posted on our Home Page. Court appearances are no longer required for bankruptcy as everything is processed online.