Martin Jones: How protected are pensions under bankruptcy?

Beware ‘sting in the tail’

clock • 3 min read

Individual insolvencies are on the rise and so, given a pension is typically one of a client's largest assets, Martin Jones reviews how well protected their retirement savings are in the event of bankruptcy

Individual insolvencies are on the rise. According to figures released earlier this year by the Insolvency Service, individual insolvencies in the second quarter of 2018 were 27% higher than in the same period 12 months previously. The numbers still have a way to go to match their 2009 post-crisis peak but the numbers do continue a general upward trend dating back to 2015. Given that a pension is typically one of a client's largest assets, therefore, it is worth reviewing how well protected their pensions are in the event of bankruptcy. * General position: Since the introduction of th...

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