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If I have investments will an IVA require me to surrender these? how will it effect my pension fund and what if these investments are part of my pension?

Hello Ful,

Welcome to the forum.


Your state pension won't be affected by entering into an IVA, however your personal pension payments may be. Creditors may vote with a modification asking you to suspend payments to a personal pension for the duration of the IVA. You would then be expected to pay this monthly amount into the IVA.

Not all pensions allow a five year suspension of payments, so if such a modification is proposed, your Supervisor will request a copy of your Pension Terms to see if this applies to you.



Kind regards,


Julia


For more information about IVAs, please visit my website:
www.supersonicsquirrel.net

Hi ful

If you have investments which are captured within a proper pension scheme, they cannot be touched in either bankruptcy or a voluntary arrangement. If you have the ability to draw out lump sums from the policies, however, you could always use this money to make a higher offer to your creditors, in the event that you needed to hit a certain dividend level.

Don't worry - your pensions are safe. Any other investments - ie stocks and shares, endowment policies will likely be required to be realised.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
View my IVA blog at: http://melaniegiles.blogs.iva.co.uk