Insolvency is a structured deal with creditor’s arranged through a PIP and pension assets can often be used as part of the deal. Sometimes our clients are happy to do this and other times they are not.
To avoid your retirement assets being on the table when it comes to negotiating a deal with creditors it is important to consider what form they are in. Different pension structures allow for different drawdown dates which means that simply changing the structure of your pension could be difference between gaining some value from it or not.
Pensions do allow for some degree of control over when your retirement assets become realisable so please get in touch before you make any decisions regarding insolvency and your retirement assets.