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Spook
Contributor

12 Posts

Posted - 17 Jan 2019 :  11:48:44  Show Profile  Reply with Quote
Hi

Are salery sacrifices towards pension or childcare vouchers allowed?

Vic

IVA Adviser
IVA Expert



793 Posts

Posted - 17 Jan 2019 :  12:10:44  Show Profile  Reply with Quote
Hi Spook,

A judgment call for the IVA supervisor that you choose (or have chosen).

If you need childcare, this seems like an efficient way to go about it. It will probably be fine.

Pension contributions are likely to be allowed, but are also likely to be limited to ensure that your creditors are being treated fairly.

I am a professionally qualified debt adviser. To contact me about starting a IVA please:?      
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Spook
Contributor

12 Posts

Posted - 17 Jan 2019 :  14:11:49  Show Profile  Reply with Quote
Dear IVA Adviser
Thanks for the reply (all of them as a matter of fact)
I do know that there is no "one fits all" figure, but surely there is industry approved "reasonable fair amount"
What would be considered "fair amount" for voluntary pension contributions in relation to contractual annual pay?
1%? 5%? 10%?
Or is it possible the pension contributions, sip plan and similar class as "gain" and if it's under 10% with all bonuses and overtimes I'd be allowed to keep it?
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IVA Adviser
IVA Expert



793 Posts

Posted - 17 Jan 2019 :  15:53:40  Show Profile  Reply with Quote
Hi Spook,

An IVA supervisor will decide based upon the facts of a case. It's likely to be a fairly low level though, as every pound paid into a pension is a pound owed to creditors that they will not get back.

If you earn extra income below the 10% threshold (that you can keep) you might choose to make a voluntary extra contribution yourself.

I am a professionally qualified debt adviser. To contact me about starting a IVA please:?      
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