Pension to be cancelled in IVA?

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julie211
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by julie211 » Fri Feb 09, 2018 6:10 am
Do pensions have to be cancelled
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Foggy
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by Foggy » Fri Feb 09, 2018 6:55 am
Sometimes a new pension will need to be stopped. Usually a long standing fund will be allowed to continue, but you might have to reduce payments into the fund to the scheme minimum.
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Lisa Thomas
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by Lisa Thomas » Fri Feb 09, 2018 9:30 am
As long as the annuities are at a reasonable level the expenditure should be allowable.
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Keith White
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by Keith White » Fri Feb 09, 2018 10:05 am
A lot depends on whether the pension is compulsory or voluntary, and whether its deducted from your salary or its private. And how much it is. Usually reasonable pensions that have been ongoing for a while are allowed.
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kallis3
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by kallis3 » Fri Feb 09, 2018 11:25 am
I was allowed to keep mine and it was deducted from my salary. It was quite a high contribution as well but it may have been because of my advancing years!
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watzki
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by watzki » Fri Feb 09, 2018 2:09 pm
I had a personal pension throughout my iva all be it a modest one of only £42 a month,it was mentioned at the beginning it might have to be frozen but it never was
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julie211
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by julie211 » Fri Feb 09, 2018 10:50 pm
Foggy wrote:
Sometimes a new pension will need to be stopped. Usually a long standing fund will be allowed to continue, but you might have to reduce payments into the fund to the scheme minimum.

My husband has a long standing of over 25 yrs plus with the minimum monthly installments and would like to keep it going after all these years. Thank-you very much for taking time out to answer my question very much appreciated and helped answer my question
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julie211
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by julie211 » Fri Feb 09, 2018 10:53 pm
Lisa Thomas wrote:
As long as the annuities are at a reasonable level the expenditure should be allowable.

Thank-you very much for answering my question much appreciated
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Lisa Thomas
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by Lisa Thomas » Mon Feb 12, 2018 9:24 am
You're welcome.
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