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Query re sacrificing part of redundancy payment into pension
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db7
Posts: 64 Forumite
Hi, I am being made redundant and have accepted an offer of £18k severance pay. I filled in a form requesting that £8k of this is paid into my company pension. The form said the company would pay an additional 13.8% into the policy as pension uplift. Two weeks later my company are saying they can't put any of this into my pension because this form is only for people receiving over £30k so that they can save tax. They say this line on the form confirms this but I'm not sure it's clear and I still don't see why they can't do this for me:
- [FONT="]Only redundancy monies (i.e. monies subject to £30k tax exemption rules) can be used. Normal salary and payment in lieu of notice etc. cannot be used.[/FONT]
0
Comments
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can you clarify the make-up of the £18k?
- are you working notice period or taking pay in lieu of notice?
- are you being paid for unused annual leave?
- is your role redundant, or have you just reached agreement to leave?
etcThe questions that get the best answers are the questions that give most detail....0
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