Redundancy Procedure – enhance your knowledge with these tips: Q15

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Question 15: How is an employee’s pension calculated in a redundancy situation?

Answer:

• Pension accruals must be included in a severance payment
• If part of the severance is transferred into employee’s pension scheme no NI is payable
• If an employee is aged 50 before 6 April 2010, they can take benefits from their 50th birthday

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