# Increased redundancy lump sum & waiving pension lump sum



## Marianne (30 Mar 2011)

There is a facility whereby a person can get an increased tax-free redundancy lump sum now in return for waiving their right to a tax-free lump sum from their pension scheme at retirement.  (Terms and Conditions apply etc.)  

My question is - does this apply to a PRSA where there have been company contributions or is it just Occupational Pension Schemes?  

Thanks.


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## Baracuda (1 Apr 2011)

Marianne said:


> There is a facility whereby a person can get an increased tax-free redundancy lump sum now in return for waiving their right to a tax-free lump sum from their pension scheme at retirement. (Terms and Conditions apply etc.)
> 
> My question is - does this apply to a PRSA where there have been company contributions or is it just Occupational Pension Schemes?
> 
> Thanks.


Simple answer is no! This only applies to occ pension schemes and does not apply to Personal Pension Plans and PRSA's


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## Homer (1 Apr 2011)

The good news is that, if you have a PRSA or personal pension, your pension lump sum is nil for SCSB purposes.


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