Pay in lieu of notice is a statutory entitlement too, though is basically wages and as such I guess there is no reason that a trustee couldn't look for a contribution from it, just in the same way as from wages.

I am only three payments away from the end, would it be the case that they would want the standard payment of 240 off of it for all the notice(10weeks) is there a set guideline or rule.

Hi cbkerr.

I'd imagine that they'd view payment in lieu of notice as being the same as wages and therefore look to take what they normally would for the period that it covers. As it covers 10 weeks that pretty much takes you to the end of your payments?

Any extra received (the windfall you mention) might be required in addition, but might also just be viewed as income helping you to complete your contributions.

This is probably one of these situations where you'll just have to run it all by your trustee so that they can form a view based upon the facts. I'd have thought that the fact that you are so close to completing your trust deed will help to encourage a practical solution to be found that is fair to all.

Hi TDA

It's a subject that comes up fairly frequently. I think you should incorporate a techie side to the site with various headings and explanations as even I get confused. Last week it took me ages to find the date that the Car value maximum date changed ( Nov 2010)

Mark

Just heard from t.d company and they are expressing an interest in both loyalty bonus(expected) and payment in lieu of notice (10 weeks money) can anyone suggest what worse case scenarios would be, would they take every bit of this???

Hi cbkerr

Worst case scenarion would be all of the bonus and a portion of the PIL payment.

Hopefully they will be reasonable.

Mark

They should take into account your living costs over that 10-week period when they calculate how much they want from your pay in lieu of notice, cbkerr - though it could get a little more complicated in the happy circumstance that you start a new job within that time.

Quick note to let you all know how I got on, trustee said I losing all my loyalty bonus but inflight of the fact that I have been unemployed all of June, or looks like I will be judging by the responses I can keep all p.i.l . One final payment of 3x my monthly contribution plus the bonus before tax and I'm all done, forever

Thanks for all your help

That sounds like a pretty reasonable outcome in the circumstances cbkerr?