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Scottish Trust Deed Forum
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Topic starter
07/12/2011 3:20 pm
I am 2 years into my trust deed, which has made a big difference to my life. The end is in sight, and I am really looking forward to this time next year when it will be paid off.
I am starting to plan for the future now, and am being advised by my company to sign up for the pension scheme.
Does anyone know if the pension provider will do a credit check when you sign up? I would like to take it out, but don't want the embarrassment of it failing a credit check or my company finding out about. For reference they are AEGON.
Thanks,
07/12/2011 3:34 pm
Hello mcbz9.
It's great to hear that your trust deed has worked well for you and that you're looking positively to the future.
Don't worry, there will be no credit check for a pension. There's no relevance in terms of your credit status if you or your employer wish to save towards your retirement income.
Will joining the pension scheme make any difference to your net earnings?
Do you intend to contribute much to the pension before your trust deed ends?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
07/12/2011 4:22 pm
Thanks TDA for your quick response.
Joining the pension will obviously leave me slightly worse off, but should be manageable even with my current payments. The company contributes 7%, with 3% minimum from employees.
Think its worth doing now rather than waiting a 11 months until my PTD ends.
07/12/2011 4:42 pm
11 months is almost an extra years worth of contributions(so worth doing),can you afford to make the payments without it impacting on your TD payment?
If not perhaps next review you can ask for a small allowance towards the pension. If you dont ask they cant say no!!!
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
07/12/2011 6:54 pm
Pension saving is obviously very important, if possible, for any of us who cannot rely on receiving an employer funded pension scheme.
I hope you can make it work mcbz9.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
08/12/2011 10:05 am
I dont know that anyone can rely on a company funded pension scheme either!!
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
