How are pensions viewed when preparing a proposal for IVA? I have a company pension which I have been contributing into for 5 years (not long in the scheme of things)which has a reported "Fund Value" of over £20k. This is a standard pension whereby my employer matches my contributions.
Stop rambling. What I'm trying to get at is will the "Fund" be considered an asset and are my contributions into the scheme deemed as essential income?
The fund is not an asset and will not be touched. You should be allowed to continue payments to the scheme provided those payments are the minimum required to remain in the scheme. Creditors will object if the payments to the pension scheme are excessive as they do not want to fund your retirement. Otherwise there is little to be concerned about and your IP should be able to give full clarification.
I contribute to an LGPS and have no problems with it at all.
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