Annuity income

Rowe v Sanders (CA [2002] 2 All ER 800)

The annuity income of a bankrupt under a policy issued pursuant to an occupational pension scheme is not ‘income’ within the meaning of s310 of the Insolvency Act 1986, but rather falls within the definition of ‘property’ in s436 of the Act and therefore vests in the trustee in bankruptcy, under s306, as part of the bankrupt’s estate. The relevant statutory provisions are not incompatible with the right to the peaceful enjoyment of possessions under article 1 of the First Protocol to the European Convention for the Protection of Human Rights and Fundamental Freedoms 1950 (as set out in Schedule 1 to the Human Rights Act 1998).