maximum tax free lump sum on retirement

benny fitt

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how is the maximum amount of tax free lump sum calculated.
for someone job-sharing is the base salary 50% of the norm?
e.g. person with 14 full years service on a sal of 45k
 
how is the maximum amount of tax free lump sum calculated.
for someone job-sharing is the base salary 50% of the norm?
e.g. person with 14 full years service on a sal of 45k

Hi. It's based on the full, final, annual salary for the post times the actual service. e.g. 45k x3/80 x 14 = €23,625
 
Superannuation max tax free lump sum is 1.5 times final pensionable salary however (essentially what your employer will give you).
The maximum Revenue will allow you have could and probably will be a higher figure (you can make this up by contributing to AVC's).
 
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