Practice Area
Panel
- Contributing Author
Qualified Year
- 2008
Membership
- Chancery Bar Association
- Insolvency Lawyers Association
- R3
Qualifications
- Called to the Bar (2008)
- Qualified as solicitor (2002)
- MA (Hons) (1997)
Education
- Levitt Scholar (Lincoln’s Inn) (2008)
- Cambridge University (MA (Hons) Law) (1994–1997)
- Cambridge Commonwealth Trust Scholar (1995)
1 Contributions by Raj Arumugam
PRACTICE NOTES
Pensions in Bankruptcy pre- and post-29 May 2000: Estate Exclusion, Excessive Contributions and Income Payments Orders (England and Wales)
When pension contributions are recoverable
This Practice Note considers two issues:
whether a bankrupt’s pension arrangement sits within the bankruptcy estate, and
if the arrangement is outside the bankruptcy, whether payments into it can be recouped for the estate’s benefit
It deals solely with occupational pension schemes and personal pension arrangements. State pensions and most statutory pension schemes do not comprise part of the bankrupt’s estate, meaning the sole route for a trustee in bankruptcy (trustee) to realise pension rights is via an income payments order.
Bankruptcies before 29 May 2000
This section applies to individuals made bankrupt following petitions presented before 29 May 2000. Contributions paid in respect of both personal pension schemes and occupational pension schemes are ordinarily recoverable by the bankrupt’s trustee, because a debtor’s contractual rights under such schemes are treated as choses in action falling within the broad definition of property in section 436 of the Insolvency Act 1986 (IA 1986). Consequently, these contributions are available for the benefit of the bankruptcy creditors...
Restructuring & Insolvency
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