Redundancy/agreement pre-retirement

Wonka_2

Not sure whether this is better here or in Pensions/Retirement but it’s here until it’s moved or I’m told it’s better elsewhere 

53yo with 34yrs service and a plan to retire at 55 (21 months from now)

I’ve had some medical issues this year that company aren’t geared up to support through adjustments (though if I need to I’ll push harder) but I’ve just had the ‘off the record’ call from MD asking how much would I want to go now rather than staying till the end. Apparently there’s money in the pot to facilitate before end of the year. 

My official redundancy terms would give me 93 weeks salary which exceeds the 84 weeks I’ve got to go - of which there’d be the £30k tax free. But over and above that I currently have car allowance/private medical which I’d like to retain (or at least cover the cost) 

I obviously need to check with our pension team but am I missing anything if my opening ask is either

a) pay my gross salary/benefits at normal level in pension contributions 

or 

b) ‘redundancy’ with the ‘tax’ on the tax free element covering car/medical and then discussion the pension contribution separately ? 

I’m quickly trying to get a local financial advisor with knowledge of the company lined up and a discussion with our pensions team but valued the knowledge of anyone who’s been in a similar position ? 

Brie

there is normally a provision to put a chunk of money into your pension as a lump sum additional voluntary contribution so that might be a good way to deal with the "go now" money that's on offer.  As a starter you might ask for that to be equivalent to the pay and benefits for the next 21 months.  

Wonka_2

Unfortunately I need that to live on in the intervening period 😉