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What tax is payable on a voluntary retrenchment package and pension fund lump sum withdrawal?

Posted 23 June 2015

Pedro says:
3 June 2015 at 12:29

I am 53 and am being retrenched by my company. They have offered a voluntary retrenchment package of approximately 700K. What amount of tax will I pay on this amount? What tax will I pay if I withdraw my pension fund and not transfer it to a preservation fund?

TaxTim TaxTim says:
5 June 2015 at 9:10

Please make use of our Lump sum calculator to work out what the taxes will be on retrenchment.

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