Am I allowed to take a small lump sum from my pension when I reach 55 ? Will this effect my IVA ?

Get expert opinion. This is the place for new questions to be posted.
2 posts Page 1 of 1
 
 

Sarahd0797

User avatar
Posts: 1
Joined: Fri Mar 27, 2015 4:53 pm

Post by Sarahd0797 » Fri Mar 27, 2015 4:53 pm
I have just been accepted for an IVA and wondered if I am allowed to take a small lump sum from my pension (25% of total valuation) when I reach 55 .

Will this affect my IVA , is there a threshold of what is allowable??
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri Mar 27, 2015 5:10 pm
Unless pension proceeds have been specifically excluded any money you draw down would be payable into the IVA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
2 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”