voluntary redundancy tax question

T

tolkarovers

Registered User
Messages
60
Hi Folks,
I have read previous posts on this topic, but I have a few questions on the implications of redundancy payments on pension lump sums.

If I decide to take the max tax free sum now, and forego the tax free lump sum on my pension what exactly does this mean?....

Does it mean:
1. I lose the tax free lump sum on my current pension amout, but FUTURE pension contributions can still be taken tax free.
2. I lose tax free pension lump sum full stop

What in general would be the best option?
I am looking to buy a house now so i could use as much money as possible on the deposit.
Thanks,
Rich
 
Therer is no general "best option" in this scenario.

You need to crunch the figures based on your situation, and make the decision.

I would suggest you get professional advice.
 
You must log in or register to reply here.
Back
Top