Redundancy for a second time within 10 years

M

MariaG

New Member
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HI All,

I was just informed I am being made redundant in 01 March 2024 .
I turn 50 in December.
Its my second redundancy , last one was 28 Feb 2014.
The below calculations were given to me but are these incorrect ?
I used the SCSB relief (and retained my pension) in the 2014 redundancy calculation.

Option A below is using SCSB and retaining the 12k pension , can I reuse this SCSB exemption again please?
Or do the calculations need to be redone again?
What are my best options , I have a pension from the old previous company that has approx 100k in the pot
My current pension also has approx 100k in the pot


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If you take Option B, you gain 5,794 compared to Option A but forego 12k tax-free pension.
Unless you really need that extra 5,794 now I would go with Option A and save the 12k from the pension plan.
 
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