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Redundancy - Voluntary Severance Advice
WeaponX
Posts: 57 Forumite
Hi,
I have taken voluntary severance from work and I need some advice.
1. In the voluntary severance package the notice period payment and the performance related pay is taxed. As the voluntary severance package is under £30,000, shouldn't the whole package be tax free?
2. Do I need to sign on at the Job centre? This is the first time i've been out of work so i'm unclear what I need to do. I understand that you do not qualify for the JSA if you have savings of over £16,000.
3. I haven't set up a pension plan yet so now i have some time on my hands I can look into this. I do have a Cash ISA that I've been putting money in year after year though. Can anyone recommend a pension or where to get the best advice from to set one up?
4. Which brings me onto my next point, at work Lighthouse Temple Financial Advisers have been touted for anyone needing financial advice. Is it worth talking/paying to an independent financial advisors about a pension?
I plan to do the CCNA and Prince2 training courses before I head back into the working world.
Many thanks for your comments.
I have taken voluntary severance from work and I need some advice.
1. In the voluntary severance package the notice period payment and the performance related pay is taxed. As the voluntary severance package is under £30,000, shouldn't the whole package be tax free?
2. Do I need to sign on at the Job centre? This is the first time i've been out of work so i'm unclear what I need to do. I understand that you do not qualify for the JSA if you have savings of over £16,000.
3. I haven't set up a pension plan yet so now i have some time on my hands I can look into this. I do have a Cash ISA that I've been putting money in year after year though. Can anyone recommend a pension or where to get the best advice from to set one up?
4. Which brings me onto my next point, at work Lighthouse Temple Financial Advisers have been touted for anyone needing financial advice. Is it worth talking/paying to an independent financial advisors about a pension?
I plan to do the CCNA and Prince2 training courses before I head back into the working world.
Many thanks for your comments.
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