We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Take lump sum or add to pension pot?
Options
m139195
Posts: 45 Forumite
Hi there,
my colleague is about to be made redundant from the rail industry and he has been given the option of adding part of his pay-off to his pension fund. He's 40 years of age and I'm guessing the total gross amount he will get will be circa £80k? - but he wont confirm that to me!
He wants to know should he transfer say 10k to his pension pot as this amount should then be free of tax - right? He has paid into a workplace pension ever since he started working (from age 17ish) so there is no short-fall, - though he has never added to it through any additional contributions.
Grateful for any advice I can pass on, thanks.
my colleague is about to be made redundant from the rail industry and he has been given the option of adding part of his pay-off to his pension fund. He's 40 years of age and I'm guessing the total gross amount he will get will be circa £80k? - but he wont confirm that to me!
He wants to know should he transfer say 10k to his pension pot as this amount should then be free of tax - right? He has paid into a workplace pension ever since he started working (from age 17ish) so there is no short-fall, - though he has never added to it through any additional contributions.
Grateful for any advice I can pass on, thanks.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards