Cashing a pension

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Janice

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Post by Janice » Sat Mar 16, 2019 3:35 pm
My daughter is bringing her wedding forward due to her father being seriously ill. As I am in an IVA i am obviously unable to help her financially, however I do have a self employed pension plan which even though it hasn't been paid into since 1987 I have been informed that once tax has been paid still could get me £8,000. Would i be able to give her this?? I have read through the conditions and pensions are not mentiined? only windfalls such as lottery etc and any inheritance.

kallis3

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Post by kallis3 » Sat Mar 16, 2019 3:47 pm
Check your paperwork to make sure your pension is excluded.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
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Foggy

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Post by Foggy » Sat Mar 16, 2019 4:18 pm
It is an asset that should have been declared --- as Kallis says pensions and proceeds may be excluded if this is specifically stated in your proposal --- otherwise it will be treated as an asset and payable into the IVA.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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