will an IVA require me to surrender investments

[ful]

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?

[iva_squirrel]

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

[MelanieGiles]

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