I've been asked to provide details of my partners and my own pension as creditors may ask that we stop paying into pension. We are in interlocking IVA. I'm not far from retiring and would lose out if this happens. Are they allowed to do this ?
They generally want you to only pay the contracted or atatutory minimum into a pension pot but, I believe, also weigh up the specific circumstances like time in the scheme and the ramifications of reduced payments. Forinstance a 20 year old will have time to make good any shortfall, whereas us older specimens would not.
They are allowed to ask, and you are entitled to refuse. However, such refusal could mean the IVA will fail. A good IP will be able to put the best arguement forward on your behalf.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014