Hi I am in the final year of my IVA. I am 60 later in the year and have the opportunity to retire. that would mean I would have a pension lump sum and monthly pension. When I started the IVA I was told my pension would not be taken into account. I want to offer to pay for the final year but want to know if they will try to take my pension. My monthly wages will drop significantly so will need to work part time to top it up. Any advice is greatly appreciated.
Unless your proposal actually states that the pension and proceeds are excluded I would take that advice with a large pinch of salt --- but it is possible ( mine did).
Taking a lump sum reduces your monthly payout going forward and, if the IVA is going to take it, it would not be worth drawing it down.
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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