The Pool Boy
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A neighbour has told me that they are being made redundant after 10 years service and have been offered a redundancy payment of c€70k, of which c€13k is the statutory element. They were wondering what are the potential implications of taking the higher tax free portion via a SCSB. They have a DC pension with the company worth about €350k that they don't intend touching until they retire, which is at least 15 years away.
What are there implications, if any, of taking the SCSB. Can it affect the tax free lump sum they are entitled to access on retirement...?
What are there implications, if any, of taking the SCSB. Can it affect the tax free lump sum they are entitled to access on retirement...?