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.F2or on dissolution etc. of a civil partnership ),

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.