Anyone having a bankruptcy petition presented prior to 29 May 2000 will find that their personal pension policy vests in the Official Receiver/Trustee in Bankruptcy. This also applies to an occupational pension scheme, subject to any forfeiture clause.
If the bankruptcy petition was issued after 29 May 2000, in the main, the bankrupt would not lose their pension, but the income would be taken into account in the calculation of income contribution into the Bankruptcy estate.
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