Notifications
Clear all
Topic starter
02/08/2011 10:43 am
I am considering going into a Trust Deed. Can you advise me if my Personal Pension can be taken into consideration. I am 49 and i think i read in my policy i can take a lump sum out in about 5 yrs time.
02/08/2011 11:00 am
Hi Jinty.
The money in personal pensions is not usually taken into account in a trust deed (unless very exceptional circumstances exist).
As the lump sum may be obtainable after a trust deed would be expected to finish, that does not appear to be an issue for you either. I doubt that it's mandatory to take that lump sum then anyway?
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
02/08/2011 11:05 am
Hi Jinty
TDA is correct as personal pensions are excluded.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
02/08/2011 11:11 am
Thank you.
No its not mandatory, the policy states that part of the proceeds CAN be used to pay out a lump sum after my 55th birthday. I presume i wouldnt have to mention this to an Insolvency practice then unless asked?
02/08/2011 11:17 am
Hi Jinty.
I'm not sure that they'd want to know about the pension as it isn't relevant to the trust deed (unless a pension lump sum or pension income were actually taken during it).
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
Topic starter
02/08/2011 11:31 am
Ok, thanks for your help
