cashing in pension
 
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cashing in pension

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(@johnd)
Eminent Member
Joined: 15 years ago
Posts: 38
Topic starter  

Hi everybody,not been on for quite awhile,discharged august last year,got the form 5,my question is if I cash in my pensions,is my trustee entitled to take it to pay anymore to my creditors,has anybody ran into this problem.



   
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TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 17 years ago
Posts: 13594
 

Hi johnd.

I suspect they cannot and would not look to do so.

However, assuming the trustee is not yet discharged, you might want to ask them to confirm the position in writing so that you have 100% certainty and reassurance.


Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
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Mark McFadyen
(@mark-mcfadyen)
Famed Member
Joined: 17 years ago
Posts: 4798
 

Probably good advice. It doesn't fall under the aquirenda rule, so in theory any entitlement does not stop with your discharge, only on the trustee's

Mark


Mark is not posting regularly in the Trust-deed.co.uk forum.


   
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Kevin Mapstone
(@kevin-mapstone)
Member Admin
Joined: 17 years ago
Posts: 4253
 

As long as you are discharged then the trustee should have no claim on such funds, johnd. However, as the others have said, probably not a bad idea to check with the Trustee just in case they have a different opinion.


Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.


   
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(@johnd)
Eminent Member
Joined: 15 years ago
Posts: 38
Topic starter  

Thanks very much tda's



   
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