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Do pensions have to be cancelled

Sometimes a new pension will need to be stopped. Usually a long standing fund will be allowed to continue, but you might have to reduce payments into the fund to the scheme minimum.

As long as the annuities are at a reasonable level the expenditure should be allowable.

A lot depends on whether the pension is compulsory or voluntary, and whether its deducted from your salary or its private. And how much it is. Usually reasonable pensions that have been ongoing for a while are allowed.

I was allowed to keep mine and it was deducted from my salary. It was quite a high contribution as well but it may have been because of my advancing years!

I had a personal pension throughout my iva all be it a modest one of only £42 a month,it was mentioned at the beginning it might have to be frozen but it never was

Foggy wrote:

Sometimes a new pension will need to be stopped. Usually a long standing fund will be allowed to continue, but you might have to reduce payments into the fund to the scheme minimum.

My husband has a long standing of over 25 yrs plus with the minimum monthly installments and would like to keep it going after all these years. Thank-you very much for taking time out to answer my question very much appreciated and helped answer my question

Lisa Thomas wrote:

As long as the annuities are at a reasonable level the expenditure should be allowable.

Thank-you very much for answering my question much appreciated

You're welcome.