Yes. By virtue of recent court cases confirming the situation, PPI remains an asset of the PPI even after completion of the arrangement. It could be that your former IP decides that they have no interest in the refund in which case it will be returned to you. This sometimes happens if the IP considers it uneconomical to re-open old files and re-contact old creditors for the 15% share of the refund they themselves will be getting.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk