A new High Court ruling will affect bankrupts who have a pension and are over the age of 55.
The ruling, made in the case of Raithatha v Williamson, means that the bankruptcy trustee will be able to draw from the bankrupt’s pension, providing they are the “right age”, usually 55.
Pensions & bankruptcy
Prior to the ruling a bankrupt’s pension had been considered to be beyond the reach of the bankruptcy trustee as it was not considered income. However the new ruling seems to have changed this, allowing the pension to be subject to an income payments order.
The judge in the Raithatha ...