The Scheme rules may calculate the lump sum on “pensionable salary” (depending on the particular rules) but under Revenue rules the max lump sum can be calculated based on gross salary.
So ideally you need to check whether you are potentially leaving any tax free money on the table when you retire. Even if your scheme rules calculate the lump sum based on a figure lower than you gross salary, you may be able to bridge the gap out of an AVC fund (perhaps a “last minute AVC”).
Worth checking it all out.
So ideally you need to check whether you are potentially leaving any tax free money on the table when you retire. Even if your scheme rules calculate the lump sum based on a figure lower than you gross salary, you may be able to bridge the gap out of an AVC fund (perhaps a “last minute AVC”).
Worth checking it all out.