www.iva.co.uk

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

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

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.

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!