Is a windup pension scheme regarded as a windfall?

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confused

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Post by confused » Sun Jul 05, 2020 8:45 pm
Hello
Does anyone know whether lump sums from a windup pension scheme could be used to make a full and final offer on my Iva? It is not enough to settle full amount, but would cover outstanding payments. Would this be considerèd as a windfall? Should I talk to IP, if they treated it as a windfall , I would need to continue payments and also lose my pension rights
I would appreciate your comments

Foggy

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Post by Foggy » Mon Jul 06, 2020 8:04 am
Similar query here: wind-up-pension-lump-sum-t89387

As IPs do have a tendency to treat these things differently it is best to chat with them to see how the land lies. These days they are also getting into the habit of re-interpreting IVA clauses ! Do have a look through your proposal first, though. Sometimes pensions and proceeds are excluded.
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
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