Can an individual transfer their pension ?

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Andrewdr17

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Post by Andrewdr17 » Tue Aug 09, 2016 1:55 pm
Can an individual (aged 51)transfer their pension from one personal pension to another whilst in an IVA
 
 

kallis3

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Post by kallis3 » Tue Aug 09, 2016 2:11 pm
Hi and welcome,

No idea on this one - hopefully one of the experts will be along to give some advice.
Sharing from experiences of dealing with debt
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Foggy

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Post by Foggy » Tue Aug 09, 2016 3:17 pm
In many cases pension funds are excluded assets, so check your paperwork. That aside, as long as the transfer was done provider to provider and no cash value hits your bank account, I see no reason why not. However, it would be prudent to await a response from a qualified expert.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
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Lisa Thomas

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Post by Lisa Thomas » Tue Aug 09, 2016 3:37 pm
I don't specialise in pensions I'm afraid.

What I can say is that if the pension is excluded from your IVA, although any transfer might not impact your IVA I would recommend you speak to an IFA about whether the IVA o your records might affect your ability to transfer it.

I would like to think not.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

footiemad

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Post by footiemad » Tue Aug 09, 2016 5:03 pm
The IVA wouldn't affect your ability to transfer from one provider to another and I can't see your IP objecting unless you were taking cash from the pension which I don't suppose you would be at your young age. Always a good idea to double check with your IP to make sure they would have no objections.
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