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Redundancy Enhanced Offer and using salary sacrifice
davethebb
Posts: 103
Forumite
I have an enhanced offer which is comprised of PILON (£15k) and compensation for loss of employment (£45k). My understanding is that £30k will be tax free but can I have my employer direct the remaining into my SIPP pension up to the £40k limit - new tax year? They currently do do this with my salary and add the 13.8% that they would have paid on NI. If they are allowed to do this do they have to take into account the minimum living wage and if so how would they do this?
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Comments
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Are you likely to enter pensionable employment in the new tax year?0
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Thrugelmir, Interesting point. It depends on the overall settlement to be honest but it is likely that I won't as I am mid 50's and have enough cash to hand to live on for a few years.0
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