Hi. I was declared bankrupt in 1997 & went through all the required procedure with the official receiver, producing a 'statement of affairs' & handing over my personal pension policy as required under bankruptcy law as it applied then.
However, I believe the law changed in May 2000 & most bankruptcies petitioned after this date would not be subject to the bankrupt's pension being forfeited to the official receiver?
Unfortunately in my case, I received a letter when I reached the age of 55 stating that the official receiver is the 'trustee' of my private pension & intends to realize the 'non-protected rights' lump-sum portion of my pension fund. (Luckily, I stopped paying into the pension when I became bankrupt so the amount the official receiver intends to claim is only about £9000).
Five years later having now just turned 60yrs old I am still waiting for them to do this. I have been in full-time employment since 2001 (my bankruptcy having been discharged) & have been contributing to my employers company pension scheme since then.
My concern is that the official receiver could also take my current company pension when I finally decide to retire, even though they have already informed me of the amount they intend to take from my old paid up pension?
I have also been informed by the [old] pension provider that I could take the protected rights part of the pension now if I wished, even though I am still working full-time. Is this correct? I have heard nothing from the official receiver so is it up to me to contact them & inform them that I intend to do this?
I know the obvious answer is to consult a financial adviser but I just thought that there might be someone on the forum who is in a similar situation & has had their pension taken by the official receiver? Any advice would be appreciated!