Pension/Redundancy

[TRS30]

Is potential for redundancy in work so trying to get some figures together. Have been reading up a bit about it and not sure about a few points, mainly how my pension tax free lump is factored into the redundancy calculation.

Details are:

Age- 41
Retirement age- 60
Salary- €60K
Years of service- 15.04
Redundancy terms- 6.5 weeks per year of service
Defined contribution pension- I pay 6% and company matches that


Could someone run the figures for me please?

Thanks

 

[TRS30]

I got the following hypothetical figures from HR. I check the current value of my pension pot and its €71,000.

Could someone please check the below figures and see if they look correct? Also if anyone could give me a net payment for Option B that would be great? HR said they are working on it however would be nice to know what it is.

Also what factors should be considered when deciding to give up your pension tax free lump sum or not?







OPTION A- Right to pension tax free lump sum is waived




OPTION B- Right to pension tax free lump sum is retained