martinharris
Registered User
- Messages
- 12
From what I read here, the €200,000 is a red herring. Your ex-gratia payment was <€17,000 and your lump sum from the pension scheme was not likely to be anywhere near €200,000 either. So the €200,000 figure is irrelevant to you.
Would you have been better off getting some of your pension fund as a tax-free lump sum at retirement and paying the tax on the redundancy in 2015? Impossible to tell without knowing all the figures.
What can you do about it?
Even if you got someone to calculate that your pension lump sum was greater than the ex-gratia payment, you'd still have to make the case that you were misled in 2015. The Financial Services and Pensions Ombudsman can't help you as he only looks into complaints against regulated financial services firms. It looks like your complaint is against a solicitor.
You saved €1,600 in tax at the time. You might have saved a bit more in tax if you hadn't signed the waiver. But I honestly don't think that the amounts involved would make it worth your while pursuing an action against the solicitor.
I don’t understand that why everyone is mixing the lifetime exemption limit of €200K for ex-gratia payment with the pension lump sum of €200K. The fact is that I received around €17K but if I was aware that the maximum ex-gratia payment limit is €200K I wouldn’t sign the waiver and obviously €17K is much less than €200K. Isn’t it?