End Of IVA and pension

truckert67

Hi,

I am at the end of my IVA two more payments and I shall be free, its been a long hard road but have got there in the end.
For those of you that are still part way through stick it out as there will be light at the end of the tunnel even though at times you cannot see it, so I have a question for any knowledgeable members.

Now I am at the end of my IVA but over the past year have reached the age of 55 at which point I could get 25% of my pension pot tax free however I do not want to use this facility as it is for my future my question is can the IVA company make me take the 25% so that they can get it as I don't see anything in the T&C and the thought has been playing on my mind. 

Thanks in advance for your answers.

sourcrates

Any money already in your pension is protected. Unlike other forms of savings, it is regarded as an exempt asset. The fund cannot be touched to help repay your debts.

Also, you cannot be forced to start drawing your pension during an IVA.

This was confirmed in the case of Horton v Henry (Nov 14, upheld Oct 16).

However, for the avoidance of doubt, wait until you have received your certificate of completion, before withdrawing money from your pension.