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Scottish Trust Deed Forum
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Topic starter
28/01/2020 8:56 pm
I’ve just read in a post you should advise your TDA if circumstances change re finances. I’ve stopped paying NI contributions as I reached retirement age but have not advised TDA. This is not intentional and I have had to pay more into our bills account so it’s not as if I’m living the high life. Will this have a detrimental effect on my TD? It’s due to end this September/October.
29/01/2020 7:50 am
Hi SunnyM.
I very much doubt that this is going to cause a major problem for you.
You should contact your trustee to tell them about your increased income and also any increases to your bills. They should reassess your contribution based upon this information. The contribution will still be based upon a calculation of affordability.
I'm not sure how long it's been since you benefited from this extra income, but I guess it's possible that some "arrears" might have built up if it's been a while. This is most commonly dealt with by extending a trust deed to enable that money to be gathered in before you're discharged.
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29/01/2020 10:12 am
Hi Sunny
this sounds like an honest mistake rather than an intentional one.
As TDA has advised, give your trustee a call and explain the position and they will work with you to resolve the issue.
P
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Topic starter
29/01/2020 2:39 pm
Thanks to TDA and Paul for advice. Will contact my TDA today and explain situation. Here's hoping no extra months will be added on.
29/01/2020 5:44 pm
No problem SunnyM.
Hopefully this will not turn into a major problem. Please let us know how you get on.
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