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Bonus Query

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(@matthew18)
New Member
Joined: 3 weeks ago
Posts: 1
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Hi,

 

Hoping someone could answer my query.

 

I've recently signed into a protected trust deed and was told that I had to declare any change in circumstances, I made my trust deed aware at the time of talking through my situation that I'm likely to receive a one off bonus this year and was told by an advisor that they would probably let me keep it after I gave them the figure I was expecting to receive. I got my bonus info since signing my trust deed and it turned out to be more than I was expecting, so I then called my trustee who Informed me that they are interested in taking ''some'' of this bonus. This is a yearly bonus that's in my contract that's performance based and I'm not guaranteed to get, it's actually my first time triggering it. 

 

Is there a percentage they normally take? or will they not touch it?


   
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Kevin Mapstone
(@kevin-mapstone)
Member Admin
Joined: 15 years ago
Posts: 4237
 

Welcome to the trust Deed forum, Matthew18.

This is one of those questions where it is impossible to give you a clear answer I'm afraid, as different trustees seem to approach this kind of thing in different ways.  It is possible that your trustee could insist that the whole amount be paid over, and there are many that would as the regulations state that you must pay over as much as is available.  However, it seems that some are more generous and allow some to be retained.

It sounds like your trustee is likely to allow you to keep some of it, which is great, but how much is really anyone's guess unfortunately.

Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.


   
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