You will be required to inform your Trustee of any redundancy and severance payments. If you were unable to maintain the contribution, your Trustee would suspend payments until you returned to employment. On your return, your financial position would be reviewed and an appropriate contribution would be set. If you failed to return to employment, then it is likely no further payments would be required and your Trustee would process his discharge at the next available opportunity, provided all assets have been realised.
May not be suitable in all circumstances. Fees apply. Your credit rating may be affected.
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