I am looking at taking voluntary redundancy after 13 years in a company. I have gotten any package since about 2 grand back in about 2000. Can you help me understand the tax impact on a payment of about 100k? Assuming I don’t want a lump sum from my pension, will just transfer that to whatever new company’s plan.
Well the SCSB would be €85k x 13/15 = €73,666 exempt.
Be careful about waiving the pension lump sum. It's the NPV of the lump sum so you could be sacrificing a large payment in the future for a small benefit now.