Trying to calculate NET redundancy payment

[onekeano]

A friend is considering taking a voluntary severance package from her organisation but is desperately trying find out the NET amount she can expectd if she signs up. Seems like a maze including SCSB and so on. If someone could please advise on the exact calculation that would be much appreiciated.

Details are as follows:

• Salary = €80k
• Service = 18 years
• Offer is 5 weeks per year (including statutory)
• Age = 55
• She has not been made redundant in last 10 years

Any advice would be very welcome as she has a big decision to make,

ROy

 

[Joe_90]

The statutory is exempt so 2 weeks per year plus one week. €22,200.

The SCSB usually gives the best result so it's Years service / 15 x average salary minus NPV of pension lump sum.

So it's 18 /15 x approx 80k - NPV pension Lump sum. About 96k before the pension lump sum.

So €138k - €22k = 116k non statutory. So it's all about the NPV of the pension lump sum.