Can I take some of my pension while I am in an IVA?

[alan871]

HI, I have thought about taking my tax free portion of a small pension pot I have in order to get a car etc, as old one is beyond repair. if I go ahead with this, is it likely that my iva will know about it and take some or all of the amount due to disclosure by pension fund firm? I have around a year left of the original term, but know the full amount wont be paid by then. Cheers

[Foggy]

Whether the IVA will want the funds depends on the exact wording in your proposal. In mine "pensions and proceeds" were specifically excluded.
If not excluded the sum drawn down could be grabbed if the IP becomes aware of it. I doubt ( but am not certain) that the pension fund company would inform the IP directly, but the IP might see reference to it on bank statements at review.

[alan871]

Thanks for reply, have just read through the terms. No mention of pension at all, other than "after start windfall etc"

[kallis3]

You need to speak to your IP to clarify this.