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Salary sacrifice, PILON and pension
koops
Posts: 60 Forumite
Hello. I work for a company that operates a salary sacrifice pension scheme. I am about to leave and have been given 12 weeks PILON plus holiday pay owed. Payroll says I can put the lump sum, approx £8000,into my pension. The question is, as this is a salary sacrifice payment, is it classed as earnings?.I ask as I am aware you can contribute 100%of earnings to your pension, and if the £8000 is not classed as earnings I may end up contributing over my limit.
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Comments
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Your company can contribute up to £40k, so depending on what amounts have already been contributed and assuming they were all via SS then you may be fine. Depends on the numbers.Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone1
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