Partners Lump Sum Payment

4 posts Page 1 of 1
Post Reply
 
 

Jon_H

User avatar
Posts: 3
Joined: Fri Mar 09, 2012 10:53 pm
Location:
Post by Jon_H » Fri Mar 09, 2012 10:58 pm
Quote
Hi all,
I am a few months into an IVA (in my name only).
My wife is due to receive her occupational pension in a few months and she will have the option of receiving a lump sum payment.
If she takes a lump sum payment will this have to be declared / offered to the IVA as a windfall payment or, because the IVA is in my name only, will she be able to keep her money?
Thanks in advance.
Jon
Top
 
 

lem

User avatar
Posts: 2753
Joined: Tue Nov 09, 2010 9:56 am
Location:
Post by lem » Fri Mar 09, 2012 11:02 pm
Quote
Hello and welcome Jon, I would assume that as it is only you in the IVA, her lump sum will be hers to do with as she wishes
Top
 
 

kazzafunk

User avatar
Posts: 4749
Joined: Sat Mar 19, 2011 6:47 pm
Location: United Kingdom
Post by kazzafunk » Fri Mar 09, 2012 11:14 pm
Quote
Hi Jon - I agree with Lem - if it is only you that is in the IVA then any lump sum your wife receives is retained by her.
Kazza

Please visit my blog:
http://kazzafunk.blogs.iva.co.uk/

IVA completed 21/03/2012
Top
 
 

Broke of London

User avatar
Posts: 7761
Joined: Sun Sep 05, 2010 6:04 pm
Location: United Kingdom
Post by Broke of London » Fri Mar 09, 2012 11:23 pm
Quote
Hi! Check your paperwork and clarify with your IP for certainty before making a decision on whether to take the lump sum BUT if it is only you with an iva, then in most cases she will be able to keep her money. But do check!
Top
Post Reply
4 posts Page 1 of 1
Return to “bonus, overtime, pay rises and windfalls”