Voluntary Redundancy.

Tr@cker

I must be one of the luckier one's who actually wants it as the deal suits me at my age-a young 55.

But im not sure how to get the best out of it, it has a lump sum and index linked pension i dont know whether its best to put a big portion of the lump sum into the pension to get more monthly income or take the standard monthly income plus cash.

Im wondering if there's a better idea with the cash-about 35K ?

getmore4less

It very much depends on the pension scheme and how they deal with the extra payments and what sort of conversion rates they will use for lump sum payments

For some final salary schemes where you can buy years and/or get a bigger tax free lump sum it can be advantagous to put a lot in to the pension since it reduces you tax bill for this year and you can get the money back out at part of the 25% tax free lump sum.

Specialist area needs a post on a pensions/investement place rather than redundancy.