What happens if I take a lump sum from my pension ?

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philip212
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by philip212 » Fri Nov 03, 2017 9:00 pm
If i take a lump sum from my pension will i v a take it and my son paid the deposit for a holiday for me and my partner for my 65th birthday i have to pay the rest of by direct debit each month
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Foggy
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by Foggy » Fri Nov 03, 2017 9:07 pm
Yes, if you draw down any pension, it will be payable into the IVA, unless pensions and proceeds have been excluded ( as they sometimes are ). Details will be in the assets section of your proposal. Paying the balance of the holiday should not be a problem as long as you can manage to fund this from your existing allowances -- the creditors will not be willing to effectively pay for your holiday by making an allowance to cover it.
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