Friend discharged from BK 2002. pension still being taken until 1st April 2008!

[rizel23]

Hi, a member of my family was discharged from bankruptcy in November 2002.

 

His pension was still being taken by the trustee appointed\insolvency service until 1st April 2008! £211 per month minus TAX (can you get taxed on money you have'nt recived??!!) This seems bizarre and has taken going through his local MP and various other chanel's to get an answer which is still not clear.

 

His questions is:

 

"After discharge from bankruptcy how long can the proceeds of a pension annuity be taken\collected by the trustee appointed\insolvency service?"

 

Many thanks

[blue4ever]

Hi RIZEL23 Welcome to C.A.G You have come to the right place,i`m unable to answer your question but some one more knowledgeable than i wil come along soon

 

 

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Any Advice given by me is based on solely on my experiance or opnion. I have no Legal background.

If i have helped in any way please feel free to click my scales

Thank You blue:grin:

[blue4ever]

I have done a little research hope this helps

 

 

TRY The Insolvency Service Website this may answer some of you Q`s

 

A trustee cannot usally claim a pension as an asset if your bankruptcy petition was presented on or after 29th may 2000,as long as the pension scheme has been approved by the Inland Revenue.

 

For petitions presented before 29th may 2000,trustees can claim some kinds of pensions. A leaflet called "WHAT WILL HAPPEN TO MY PENSION?" is available from your local offical receiver`s office.

 

 

cheers paul

 

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Edited May 8, 2008 by blue4ever

[rizel23]

Thanks Paul, very helpful, i have read it all the way through, but because he was made bankrupt before May 2000 the new legislation does not apply and seems as though the trustee could continue to take monthly payments until death or end of pension.

 

However the trustee was released from his duties on the case in March 2005 and handed back to the insolvency service, so does that mean he is entitled back to his pension from that date?

 

Its all very confusing to be honest and seems very wrong that there was never any legislation in place for this kind of event before May 2000. thanks

[rory32]

Hi rizel23 and welcome to CAG. Ithink you would receive more advice on your situation if your thread was in the debt forums, so I will move your thread to there for you.