Hi my question is regarding pension contributions

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Post by baldy » Sat Aug 14, 2010 10:44 pm
Hi my question is regarding my pension contributions. I pay £49 per week into my company pension which is clearly stated on my wage slips. But the company which is setting our IVA up wants proof from my employer that this is the minimum that i can pay into it. (age 49!) is this right?
many thanks.


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Post by Julie » Sat Aug 14, 2010 10:51 pm
Hi Mr B - I can understand your IVA company wanting proof that this is the minimum payment. Your payslip will only show what you actually pay, not what you could pay.

I would think your IVA company needs to collect the facts, so they can justify your payments to your creditors.

Your employer can provide a simple statement to reflect the amount of minimum pension payments.


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Post by Lisa2009 » Sat Aug 14, 2010 11:03 pm
I agree with Julie. They will just want proof to be sure it cant be lowered freeing up more money for your creditors.
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Post by MelanieGiles » Sat Aug 14, 2010 11:12 pm
This is a requirement under the IVA protocol, so the IP is quite entitled to ask for evidence of this.
Regards, Melanie Giles, Insolvency Practitioner


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Post by baldy » Sun Aug 15, 2010 10:05 am
Many thanks for your prompt replys. I just felt i needed to make sure that what i being asked for was right!. I have spent loads of time on this site and storing all the info on how other IP's are dealing with their customers and there are some differences from time to time, ie Melanie was covering the value of your car you had in a IVA, i was told creditors dont really except cars worth over the £5000 mark, yet she has many clients who has!.

So im just trying to make sure everything is being done so that once we have signed all the paper work and two years down the line i dont regret what we have signed up for!
There has been people on here with some pretty bad experiences so i feel by posting the odd question on here for you experts to answer, it makes us feel so much better.
Many many thanks for helping everybody who posts questions on here.
Mr B.


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Post by kallis3 » Sun Aug 15, 2010 10:15 am
Post all the questions you want. It is much better to be 100% sure.

As to cars, mine was worth about £8k when we started and I was allowed to keep it.

My pension contributions are 6.8% but this is a fixed amount.

It is down to the IPs sometimes as to what they ask for.
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Post by Shining » Sun Aug 15, 2010 5:30 pm
I was allowed to continue with my local government pension for which I was really grateful as at almost 50 I will be needing this. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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