Pensions could be handed to bankruptcy creditors

The case Raithatha v Williamson will determine if a bankrupt who reached scheme pension age who is still employed and working should be forced to access pension savings. At present a bankrupt's undrawn pension has not been considered income, and so was not liable to income payment orders under insolvency laws. However, once accessed the lump sum and annuity received are susceptible to any order. The case looks at the scenario where the bankrupt, Williamson, is entitled to draw a pension, but chooses not to. Commercial law firm EMW acts for Williamson. Principal Damon Watt sai...