Calculating redundancy and impact of PRSA

Discussion in 'Redundancy, unemployment & jobseekers entitlements' started by Learner2015, Feb 12, 2018.

  1. Learner2015

    Learner2015 Frequent Poster

    Posts:
    166
    Hi all,

    I had a few questions re calculating the net pay to an employee from a redundancy offer.

    1. Am I understanding this correctly - If the total gross payment is €150,000 I deduct the statutory part (11 years so €600 x 2 x 11 + bonus week of €600 = €13,800) €13,800 giving €136,200 and then apply either the basic or basic plus increased or SCSB using whichever one gives the highest exemption?

    2. The employee has a PRSA that they and their employer contribute into. Everywhere I read about the SCSB it says take off any pension lump sum - does this apply to PRSAs aswell?
     
  2. JoeRoberts

    JoeRoberts Frequent Poster

    Posts:
    446
    A prsa is not considered an occupationsl pension scheme so my understanding is that it is not deducted.
     
  3. Learner2015

    Learner2015 Frequent Poster

    Posts:
    166
    Thanks Joe.