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Topic starter
13/11/2009 6:10 pm
My company operates a performance related bonus scheme. I am also offered the opportunity to transfer my bonus straight into my pension fund. If I did transfer it directly to pension fund would I have to declare it as earnings?
13/11/2009 11:37 pm
Hi albastef,
If this bonus will appear on your pay records I think your Trustee might take a dim view of having transfered it to your pension in this way. They may still require the money from you; something that could be hard to manage for you.
Mark or Kevin may shed some more light on this but I'd suggest that you be careful.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
13/11/2009 11:45 pm
so what's the best way to make a bonus disappear? if you know what I mean.
14/11/2009 12:24 pm
Hi all
TDA is correct and I don't think a response on how to con your creditors/Trustee is appropriate.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
14/11/2009 7:49 pm
fair point!
16/11/2009 4:43 pm
quote:
Originally posted by albastef
fair point!
albastef - my own TD is set up in such a way that my trustee has incorporated one twelfth of an "expected" company bonus into my monthly payment.
The actual amount of my bonus varies from year to year, and last year it was quite a bit higher than the expected bonus my TD is working from.
I'm not 100% sure that this will be the case every year, but certainly last year I was told that I could retain the entire bonus, because it had already been accounted for in the way I described above.
Topic starter
16/11/2009 6:45 pm
imcville, thanks for taking the time to write.
good to hear you managed to retain some of your bonus.
My bonus is not guaranteed so has not been included in any negotiation. In fact I was never asked if I received any bonus during meetings with Trustee.
