Hi,
I am 47.
I had 25 years at a previous employer with a pension current value of around 275k.
I have 1 year at the current employer (TUPE'd across) with a pension current value of around 10k.
I am being let go and am considered to have 26 years service.
I am told the 1 year pension is being returned in full (and I pay 20% tax on it)
For SCSB:
- Does NPV get calculated on the 2nd small pension or the 1st?
- If I am under 50 does that mean the NPV/'C' is just 0? or do they do an actuarial calculation on it?
Just wondering if I am in the sweet spot of have long service + decent salary + NPV/'C' will be 0?
Thanks!
I am 47.
I had 25 years at a previous employer with a pension current value of around 275k.
I have 1 year at the current employer (TUPE'd across) with a pension current value of around 10k.
I am being let go and am considered to have 26 years service.
I am told the 1 year pension is being returned in full (and I pay 20% tax on it)
For SCSB:
- Does NPV get calculated on the 2nd small pension or the 1st?
- If I am under 50 does that mean the NPV/'C' is just 0? or do they do an actuarial calculation on it?
Just wondering if I am in the sweet spot of have long service + decent salary + NPV/'C' will be 0?
Thanks!