Upcoming Redundancy Query re: Social Welfare and a final bonus payment

[Xaviermcd]

Hopefully somebody can provide some advice / wisdom regarding this upcoming scenario.

I have been accepted for a voluntary redundancy which is fast approaching.
I will be finishing my current employment on the 28th Feb 2025 and will be getting my severance package prior to leaving on the 23rd Feb.
My plan was to cease my employment on Revenue on the 1st Mar and sign on for Social Welfare straight away. I'm over 55 so there won't be any delay to my S/W payment as a result of the Redundancy Payment.

Only this week I have been made aware of my last bonus for 2024 will not be paid in February. Instead it will be paid as normal on the 23rd Mar which is obviously after my employment has terminated.

Given that I would no longer be employed how will the bonus be processed from a Tax liability point of view ?
Should I hold off ceasing my employment with revenue until the bonus is paid and taxed accordingly ? and then sign on ?

I will be following up with HR next week and my manager but just curious to see if anyone can offer advice on this scenario.

Thanks in advance.....

 

[Salvadore]

The tax treatment of all payments should be covered in the settlement agreement you’ve been provided with.

 

[elcato]

You sign on the day after you official departing date regardless of the day you get paid the bonus. Seems odd though that they would say it won't be paid till you've actually laft so as above it should be handled in the settlement agreement.