Raithatha v Williamson  EWHC 909 (Ch) (4 April 2012)
In an amendment to the Reform and Pensions Act 1999 (WRPA 1999), the High Court has ruled on the issue of income payments orders (IPO’s) in a decision that will impact upon bankrupts who have a pension and are over the age of 55. Until now an individual yet to draw their pension was protected from an IPO, which may now no longer be the case. As a result of this amendment, trustees in bankruptcy will have a significantly enhanced ability to influence an individual’s pension rights while, equally, individuals in bankruptcy face losing control of their own pension pot. Read more »
Steve Webb has appeared in a variety of guises in the past but never before as the nearly Oedipal, guitar wielding Marty McFly, in his own private version of “Back to the Future”.
No doubt inspired by Madonna at her blondest, Mr Webb has announced something he calls “Defined Ambition” pensions.
I don’t know if you have ever been through one of those branding sessions where you come up with a random series of “inspirational” values which you then cut out and randomly paste together in the hope of accidentally creating a phrase which sums up the essence of your inner being. Sometimes it works, but more often than not, all you come up with is some thing as empty, meaningless and trite as “Defined Ambition”. Read more »