lump sum

[stodgy88]

my postoffice pension is deferred can the official receiver touch my lump sum if i go bankrupt cheers

[RobertT]

I'm no expert,but I think if you take your tax free lump sum while your in the process of going bankrupt,then the reciever can probably grab it.

[stodgy88]

i thought posting on here would get an answer , surely someone in the cwu could help -----very disapointed

[DGP1]

You'd really need to talk to your insolvency agent, but from my understanding of bankruptcy laws, they can take any money you receive whilst you are bankrupt.

[RobertT]

i thought posting on here would get an answer , surely someone in the cwu could help -----very disapointed

Why don't you ask them then?

[stodgy88]

i thought posting on here would get a response ,clever arse ,my union rep is useless .

[DGP1]

i thought posting on here would get a response ,clever arse ,my union rep is useless .

If you are going bankrupt then you really need to talk to the person handling your case, they will be able to tell you everything you need to know or you can always contact CAB if you need some free legal advice.

[TrueBlueTerrier]

i thought posting on here would get a response ,clever arse ,my union rep is useless .

Not a polite response to a polite question was it.

Also you may be disappointed and there is not much we can do about that but just so you understand where we come from and what we are:

1. Everyone who posts on here does so in their own time and with no financial incentives.
2. We have nothing whatsoever to do with the Union except that most are members of the CWU.
3. We have nothing to do with Royal Mail except that the majority of us work for them.
4. The advice given on here is voluntary and entirely unofficial and members should keep that in mind when acting on the advice given.

Also IMHO the advice you are looking for would not normally be within the scope of a Union Rep to advise on so the advice of contacting the Pension People or the CWU Pension advisers direct is probably the bet advice you will get on here or anywhere else. Perhaps you expect too much from unpaid Reps and RMC members.

Advice available from these

RM http://www.royalmailgroup.com/portal/rm ... d=23400505
Royal Mail Pensions Helpline on 08456 030 043.
For Independent Financial Advice contact the IFA Helpline on 0117 971 1177.

[DGP1]

http://www.insolvencyhelpline.co.uk/ban ... ruptcy.php

What are the implications of bankruptcy?

* You lose control of your assets.
* You cannot obtain credit for over £250 without the permission from the lender.
* You cannot act as a company director.
* You cannot take any part in the promotion, formation or management of a limited company (LTD) without the permission of the court.
* You cannot trade in any business under any other name unless you inform all persons concerned of the bankruptcy.
* You may not practice as a Charted Accountant / Lawyer.
* You may not act as a Justice of the peace (JP).
* You may not become an member of parliament.
* You may not become a member of the local authority.
* Your credit is affected for many years after the annulment.
* You may be publicly examined in court.


Your pension would/may be classed as an asset and they may take it to help pay off your debts.

[stodgy88]

sorry to cause such a kafuffle ,it was the way i thought it was worded(THE REPLY) MY APOLOGISES

[johnnyp]

No Probs mate

[BELIAL]

Well HBOS, RBS ,NatWest ,LLoyds etc. have just gone bankrupt and they got a £500 billion handout ,maybe you should renegotiate your terms