I'm nearly 50 and taking VR and my severance is approximately £60k with the first £30k tax free.
I will have earned approx £11k this tax year by the time I leave on 1st August and I start a new job mid August on £30k so this will take me into 40% tax bracket.
My pension forecast says currently stands at £7700pa I can't draw u til im 57
I have the option to put the taxable part of my redundancy pay into my pension but providers can't/won't give me figures how this will impact the amount paid out .
Any advice appreciated whether it's best to put the extra into pension or just take the whole lump sum and pay the tax?
Thanks