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Scottish Trust Deed Forum
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Topic starter
29/05/2013 4:36 pm
I was wondering what would happen if you had, say a three year trust deed and lost you job after two years. Would it sort of put on hold until you obtained another job?
Are people always held to the full trust deed time, or according to circumstances, are released early?
Just wondering what happens?
29/05/2013 4:43 pm
Hi melissa.
The first step would be to let your trustee know about the loss of your job. They're very likely to allow a temporary suspension of the contributions while you find new work.
Depending upon the circumstances, and the view of the particular trustee, there's some likelihood that the trust deed would be extended to enable missed repayments to be caught up later.
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