Specialist Support NI Offers Support to all Money and Debt Advisers in Northern Ireland
From January 2015 to March 2015 Advice NI Specialist Support NI responded to over 90 queries from advisers. This is a notable increase on the number of advisers seeking support from Specialist Support NI. The range of queries is varied. Although the queries covered a wide range of subjects there were quite a few seeking clarification on how pensions are treated in bankruptcy.
A spokesperson for the Insolvency Service states
Following the introduction of the Welfare Reform Act May 2000 any pension that is HMRC approved will not be considered in bankruptcy. The Official Receiver will not force a person to draw down their pension early. However if a person has drawn down their pension this will be assessed as income and will be taken into account in bankruptcy. If a person decides to ‘draw down’ their pension before they are discharged then these monies will be considered by the Official Receiver in bankruptcy.
At the recent Enforcement of Judgements Users Forum it was stated by Trevor Long, Chief Enforcement Officer for Northern Ireland that the target for Enforcements Officers to enforce Orders for Possession was about four months. Previously the time scale for enforcement had been from six months
Advice NI Specialist Support NI offers support to anyone who supervises money and debt advises. If you manager/supervise a debt adviser please contact me and I will be happy to discuss how I can be of assistance..
If your organisation would like to host an Ask the Expert Session please contact Phil McGarry by letter; Advice NI, Rushfield Avenue, Belfast, BT7 3FP, Telephone: 028 9064 5919 or by email firstname.lastname@example.org.