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Final Salary Pension / Final Remuneration / Emoluments / Voluntary Redundancy
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Lawrence631
Posts: 8 Forumite

The trust deed and rules for my pension defines "Final Remuneration" as the total emoluments averaged over 3 year but disregarding any sums chargeable to tax under Section 148 of the Income and Corporation Taxes Act 1988. On taking voluntary redundancy in 2001 i received £50k (£31k payment in lieu if notice + £19k - service element / redundancy). The first £30k of this payment was tax free. Does any element of these payments qualify as emoluments, particularly the £30k tax free element?
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Lawrence631 said:The trust deed and rules for my pension defines "Final Remuneration" as the total emoluments averaged over 3 year but disregarding any sums chargeable to tax under Section 148 of the Income and Corporation Taxes Act 1988. On taking voluntary redundancy in 2001 i received £50k (£31k payment in lieu if notice + £19k - service element / redundancy). The first £30k of this payment was tax free. Does any element of these payments qualify as emoluments, particularly the £30k tax free element?Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!1
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