Redundancy Pay

dhj

I'm probably going to be made redundant very shortly and, at 55, am not expecting to find another job very easily so really need to maintain an income. My company is offering up to 2 years pay as VR but no pension. If I am made compulsory redundant I automatically receive a full pension (approximately half pay) plus the statutory amount. I am leaning heavily towards the compulsory because I am very concerned about what the government is currently doing and may do in the future with pensions so, my question is. Do you think it better to take the cash (I pay 40% tax so would take quite a hit) and wait 4 years and request a pension or to take the pension now (but no cash)?