NHS Pension

[KeyNHS]

Hi everyone [:D] ,

I am a nurse and have been in my iva for 2 months now with payplan and am a little bit pissed off already ,

I was re-assured by the chairman in my iva meeting that my NHS pension would probably not be affected and now it seems inevitable that i will have to freeze this , is there any way around this ?
(the nhs pensions are changing soon , could be a possible argument )

Can i take out some other provision for the 5 yrs and not tell anyone ? to attempt to bridge the 5yr pension shortfall ?

Is it also possible to just pay an increased contibution
(equivalent to my pension) to the iva and keep paying into my pension as i cant see how they can insist it is frozen ?

what happens if i just keep paying the agreed payment and just bury my head ?

[MelanieGiles]

Hi there and welcome to the forum

I am slightly concerned when you say the Chairma assured you that your pension would not be affected, and now you say after the event that it will! How has this happened, as it would have been a modification at the creditors meeting which brought this all about - which the Chairman should have been discussing with you.

I suggest that you have a serious chat with this person tomorrow and a good read of your Chairman's Report to see what you did actually agree to accept. And I cannot see how you will be able to afford to fund the pension contributions from a budget which appears to have not allowed you any provisions for this.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[cat 1]

i have an nhs pension.i'm two month into an iva.it was never mentioned at all.contributions go straight from source so are clearly marked on wage slips. Cat 1

[MelanieGiles]

So why are you saying it is inevitable that you will need to freeze te pension? Who is telling you this and on what authority?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Bindy]

Hi pissed off NHS worker

I myself am an NHS worker and have been in my IVA for 2 years. I was also asked to freeze my pension after 2 months of being in the IVA. I didn't freeze it but continued making my contributions and made the additional payments to the IVA. My IP said I had a choice - freeze it or cough up! Guess what - same company as you.

Bindy

[MelanieGiles]

Why is this company doing this? Unless this is a requirement of the IVA proposal, or something which creditors have specifially requested and you agreed to, I suggest you send them a stiff letter asking for the return of your unpaid pension contributions.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[KeyNHS]

It is mentioned in the conditions that if i can freeze my pension then i have to do this and pay the money into my iva . The chairman did say that he doubts that it would be affected as its an occupational pension . I have had a letter asking to see pension details from pp and emailed them back asking what Specific details do you require ? no responce as yet so i will wait .
I think they want to read small print that says i can suspend for 5yrs ,
If i have to then i do accept it as the debt has to be paid off and i dont really fancy going bankrupt ( stigma partly ) and i would like to obtain credit if needed in the future

[Sensible77]

I'm with Payplan and pay into a local government pension. I mentioned my pension contributions whilst going through the IVA process and was told that it would be very unlikely that my pension contributions would have to cease. This turned out to be the case and I am paying my pension contributions normally.

[MelanieGiles]

A lot of creditors are asking for pensions to be suspended at the moment, and your IP should have drawn this to you attention on the day of the creditors meeting - as it is only you who can decided whether to accept or reject the proposed modification.

You will need to check whether it is possible for you to do this with your employers.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[cat 1]

Melanie? If the pension thing wasn't mentioned in the proposels/modifications, it can't be added at a later date can it? Cat

[MelanieGiles]

Most definately not!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp