Section 11 ensures that if someone becomes bankrupt, their tax-approved pensions are protected. Under section 12, rights under non-approved pensions may also be protected. However, it is possible that people could put large amounts of their assets into pensions in order to keep them out of the reach of creditors. So sections 15 and 16 (and paragraphs 67-72 of Schedule 12) provide a power to recover excessive contributions from a pension so that they can be used for the benefit of creditors. These measures were added to the Bill as amendments at Commons Report stage (Hansard vol. 331 col. 701), and at Lords Committee stage (Hansard vol. 604 col. 951).
	Section 15 amends the Insolvency Act 1986 by replacing sections 342A to 342C;
	Section 16 makes parallel provision for Scotland, by replacing sections 36A to 36C of the Bankruptcy (Scotland) Act 1985.
References below are to the new sections 342A to 342C.
Commentary on Sections Northern Ireland stakeholder pension scheme legislation Part II: Pensions: General Sections 15-16: Excessive pension contributions made by persons who have become bankrupt