Hello I need advice about a company pension

[Gopal]

Hello I need advice about company pension I was paying six percent into it before my IVA started what do I do now and IVA want confirmation about it I forgot to cenacle what should I do now ? Will my IVA fall? Please help Gopal

[kallis3]

Hi and welcome,

Speak to your IVA company and tell them what has happened. I am sure it can be sorted out.

[Foggy]

If you have been paying it out of other allowances then there shouldn't be a problem.

[Lisa Thomas]

Was it ever included in your original Income & Expenditure form?

They might be asking not just because they want to recalculate your disposable income but this could be an asset that you needed to disclose in your IVA. When you were originally asked about pensions did you disclose it? Was it ever mentioned in your original proposals?

[Gopal]

My IVA start 6/March/2012 it's been 4year and 2month with Payplan,on my proposal it says I can pay minimum contributions to my company pension but I didn't know that I am paying six percent before my IVA start,now Payplan wants know for minimum mount but told Payplan I am still playing six percent need advice what will happen now will be my IVA fail ? what to do now? Gopal

[lifenoteasy]

You need to get confirmation that the 6% is the minimum (and the NHS minimum contribution is now higher).

You are just unfortunate that you are with pay plan.

[kallis3]

I was with Payplan and was allowed to keep on paying the amount I was (can't remember what the percentage was though) with no problems.

[Shining]

I paid into my pension without discussion (direct out of salary) every month and this was never challenged.

[Gopal]

My company say three percent is minimum pension contributions but I am paying six percent before my IVA start what will happen now any advice please?

[kallis3]

If that is your minimum contribution and it is directly from your salary I don't see what they can do about it.

[kallis3]

The other thing is that Payplan will have seen payslips (or should have done) and the figure will show on there.

[Gopal]

Yes Payplan had my payslip when they done annual revenue now they want know the minimum amount to pension but my company says three percent is minimum but I have been playing six percent before my IVA start can anyone advice me please what will happen now ?

[kallis3]

Stick to your guns and tell them that they are aware of the amount you were paying and it's not changing.

[Lisa Thomas]

worst case scenario they decide you have been paying 3% more than the minimum and might require a review of your I&E to date.

It would not simply fail on that basis - they should give you time to make good any additional payments they feel might be required.

Personally given they review your I&E every year I would argue if they tried to make you pay from the start.

Perhaps if needs be you can offer to reduce the payments going forward and pay the increase in disposable income into the IVA.

[Gopal]

Thanks for all of your advice that made me fill better thank you so much