Company Pensions in IVA & BR

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Lapdog

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Post by Lapdog » Thu Mar 08, 2007 10:41 am
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Can someone verify what the situation is with Company pension contributions during an IVA or Bankruptcy as it's not something that i have discussed directly with my IP.

I have been paying into our Company Pension at source since 1992 and wondered if creditors can have access to this money or if it is considered to be an asset given that, to a certain degree, it is a form of savings.
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i_a

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Post by i_a » Thu Mar 08, 2007 5:23 pm
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As far as I know any pension contributions you have made are safe from creditors in both IVA and BR.

However you may be asked to stop any voluntary contributions you are making during the IVA or BR.
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go_4_broke

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Post by go_4_broke » Thu Mar 08, 2007 10:29 pm
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I'd agree with ack, but add that the other complication you may have is if you become entitled to pension income or a lump sum during the period of IVA or bankruptcy.

If you haven't discussed it with your IP you probably ought to.

-Best

'5 years sticking my head into the Lion's mouth of debt !'
Please view my blog at www.go4broke.blogs.iva.co.uk

'Vive la differentness'
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