Part XI General and Miscellaneous Provisions

Avoidance of certain transactions and provisions

155AF1 No forfeiture on bankruptcy of rights under personal pension schemes.

1

A person’s rights under a personal pension scheme cannot be forfeited by reference to his bankruptcy.

2

For the purposes of this section—

a

a person shall be treated as having a right under a personal pension scheme where—

i

he is entitled to a credit under Article 26(1)(b) of the Welfare Reform and Pensions (Northern Ireland) Order 1999 (sharing of rights on divorce etc.),

ii

he is so entitled as against the person responsible for the scheme (within the meaning of Chapter I of Part V of that Order), and

iii

the person so responsible has not discharged his liability in respect of the credit; and

b

forfeiture shall be taken to include any manner of deprivation or suspension.