what happens to a pension if a person goes bankrupt

[mcflurry]

haworthlloyd1 said:

suppose a person had a house worth 250k, 30k in savings and 15k invested in isas and a pension fund worth 50k and he was to go bankrupt he would lose his house, savings and investments, but what would happen to his pension?

With £295k of assets it's unlikely they would go bust.
The £45k of liquid assets would be used to pay the debt first, or create an IVA etc..

[dazren]

Not sure on current legislation but in the late 90's if the pension was a personal pension it could be taken by the Trustee, if an employers/company pension the rules of the scheme were usually set up so that it was impossible for the Trustee to get.

For the size of the pension, I'd suggest seeing a laywer specialising in Insolvency law. Obviously he/she'll need a copy of the pension scheme rules prior to the consultation.