Trying to calculate NET redundancy payment

O

onekeano

Registered User
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A friend is considering taking a voluntary severance package from her organisation but is desperately trying find out the NET amount she can expectd if she signs up. Seems like a maze including SCSB and so on. If someone could please advise on the exact calculation that would be much appreiciated.

Details are as follows:
  • Salary = €80k
  • Service = 18 years
  • Offer is 5 weeks per year (including statutory)
  • Age = 55
  • She has not been made redundant in last 10 years
Any advice would be very welcome as she has a big decision to make,

ROy
 
The statutory is exempt so 2 weeks per year plus one week. €22,200.

The SCSB usually gives the best result so it's Years service / 15 x average salary minus NPV of pension lump sum.

So it's 18 /15 x approx 80k - NPV pension Lump sum. About 96k before the pension lump sum.

So €138k - €22k = 116k non statutory. So it's all about the NPV of the pension lump sum.
 
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