Iva enquiry

April18

Hi, I'm 55 in May and in the final year of an IVA agreement. Is my pension exempt from the agreement if I surrender any or all of my pension before it ends? We are with Payplan.

DorisTrousers

Without seeing the proposal it is impossible to answer that with 100% certainty, but the odds are that the payout would have to go into the IVA.

It is possible, but unlikely, that any pension is an excluded asset. If it is not, and I would expect that to be the case, then if you cash in before the IVA finishes then it would be captured under the windfall clause.

You can check with your I.P. or read your proposal again, but to be on the safe side I would probably suggest that you abandon that idea unless and until you have received your completion certificate.