Where you are offered as part of a redundancy package the option to take the pension lump sum (which at retirement is tax free) and would be taxed now. The amount is €15,000 before tax. From peoples experience are you better off taking it now and paying the tax or leaving it until retirement age and taking it tax free?
Any feedback comments appreciated
Thanks
Bedlam
Whether or not it makes sense to sacrifice the pension lump-sum to boost the tax-free part from redundancy is a personal decision but certainly should not be done unless it will boost the tax-free part from redundancy by as much as you are not going to get tax-free from the pension.
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