Redundancy

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Comments

  • I am facing redundancy next year and want to know if my redundancy pay is tax free up to £30,000, and I can take a lump sum from my pension pot tax free, up to £50k. What happens if I withdraw a lump sum at the same time I receive my redundancy payment; would both sums be tax free?
  • Up to £30,000 redundancy payment is tax free. Separately, you can take up to 25% of a DC pension tax free assuming you are over 55. 
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