medical retirement

[hwg]

medical retirement
myself and my wife are just coming to 1st year of iva. i have parkinsons disease.
there is a possibility i could be medically retired. i will rcieve a large lump some wich will probably clear 70-80% of our iva then i will get a pension (one third wages).would i have to hand over all the lump sum and some of my pension, my wife still works but we will still have mortgage aswell. please with out me going into detail can you give me some advice. thanks

[kazzafunk]

Hi hwg,

I have just been accepted for IHR after a year of appeals. I will receive a lump sum and have had a long discusion with a member of the variation team at my IP company.

I am offering up about 40% of my lump sum as a F&F to end the IVA. Our expected return to the IVA was 18p in the £. This offer gives a return of about 20p. I have listed the reasons for wanting to end the IVA (won't be able to meet payments from the pension and hubby's wages) and listed the things I need to purchase to meet my disabled needs from the remainder of the lump sum.

I would speak to your IP and hopefully they or the variation team will be as helpful as my IP company have been.

Good luck and let us know how you get on.

[Daveyboi]

Good advice from Kazza above I wish you luck with it and hope they see you right, most important thing is not to let it stress you out your health is very important.

Take care

[Julie]

Great advice from Kazza. Please keep us updated xx