i stopped paying for a while, but i am concerned as 36 and not really thought much about it. I have just re set up to pay a reduceed payment plan, as they were about to mark my pension paid up.
Cahn i still pay into this if i go bankrupt. The amount i would be paying is £25 per month??
First of all is this a private pension or work related?
You need to check your pension as if there is a current cash in value and it is not Inland Revenue approved then you may loose this in Your Bankruptcy.
If the pension is work related or IR approved you may have to suspend payments during the term of your Bankruptcy, however you are allowed a small disposable income in Bankruptcy so if you wanted to use this to maintain payments then this should be ok.
It is most likely that you will be asked to suspend payments to your pension fund during the IVA, but Brett makes a good point about using your share of the disposable income to pay for whatever you want.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com
Can i still pay into my pension?
Posted - 19 May 2008 : 15:51:52
