Do i need to freeze my pension

[saz]

I have been in a private pension for about 4 years now and been in an IVA since April this year, I told my IP that i pay 5% into my Pension and work pay 6% into it, She didnt say i had to cancel it or freeze it but to be honest she didnt really say anything about it, I'm just abit concerned about it, does anyone have a pension who is in an IVA?

Three cheers for IVA's
Wish I had done it sooner
54months to go

[Skippy]

I was allowed to keep paying into my pension when I was in my IVA. If nothing has been said I would think that you should be ok.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[sonyse2t5]

If it is a 'public employee' pension and contributions are debited before it shows on your slip as a NET amount, then you can keep doing that. If as you say it is Private and comes off after the net then I think it would have be in your I/E list. Just argue to have that in there as no one should not pay into a pension.

[Skippy]

Mine is a private pension but I was allowed to keep it. I put my net income down as the figure after the pension deductions and Thomas Charles, Accuma and the OR haven't queried it even though it is clearly shown on my payslips.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/

[zarron]

At my creditors meeting I was offering a £250 monthly payment. This was the maximum i could afford but it was rejected by my biggest creditor who said if i also put my £50 monthly pension payment towards it they would say yes and i was advised by my IP the IVA would go through as i would exceed the 75% needed.

Needless to say i cancelled my pension and then offered £300 a month and my IVA was accepted

when my IVA finishes i plan to invest in added years to claw back my lost 5 years while in my IVA. i see it as a good deal though as without that £50 my IVA would never have gone through!

[Oliver]

It would usually be decided either before your creditors meeting or at your creditors meeting as to whether you can continue paying into your pension. Contact your IP so you are clear on whether you are allowed to continue making your full pension contributions.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[Sensible77]

I have a company pension and I highlighted it to my IVA company, PayPlan, when I was starting the procedure. They said that it was unlikely that my creditors would want me to cancel/suspend it, and that turned out to be the case. However, as an IVA is individual to each person, this may not be the case with everyone.

[Adam Davies]

Hi Saz
If you are making your IVA payments ok then there is no need to worry.Your IP will be have instructed you to stop paying by now and even if they did,and you are paying the IVA payment ok,then you could fund your pension payments via any saved monies on your expenditure.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[MelanieGiles]

Read throught your IVA proposal and Chairman's report to be absolutely sure - or check with your IP directly. It would not be the first time on this forum we have heard of someone being contacted by their IP at a later stage demanding the equivalent of pension payments, so get yourself some peace of mind.

In my own experience, pension contributions are rarely touched by creditors.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[saz]

Thanks for all your advice, i have been paying my IVA payments fine and i did mention my pension when i was applying for an IVA so it should all be fine, i'll just ring and double check though.

Three cheers for IVA's
Wish I had done it sooner
54months to go