Well that’s it then. Although I’m technically employed for a further twelves days my final salary has been paid and includes a not I substantial amount for redundancy. Another big step in the wind down of my thirty years service.
I’ve had a little moan to myself about tax. Having 40% swiped off a large part of the settlement is galling. Especially when I know that the tax free redundancy allowance would exceed my payment if numerous chancellors of the Exchequer had index linked the £30k tax free amount since the 1980s.
I could get much of the tax back by sticking some of it into pension. But I’ll have to wait six years to access that and basic statistics aren’t telling me that I’ll be alive in 2023.
I think the payroll people deduct tax on the assumption that I’ll earn the same five figure sum every month. So I’ll be able to get a small rebate from HMRC. I might even still be alive by the time they process it!
No correspondence yet about my share option schemes, but I should be able to realise a decent sum from those in the next few weeks. I’ve also switched pension schemes and don’t have sight of the new one yet. Albeit I’ll only have paid in three months contributions! Not that I know I have as my payslips aren’t available!
It’s fair to say I feel a little bit frustrated about the loose ends. I desperately want to see my payslips which nobody seems to be able to produce. I don’t even know if my change of pension scheme for my final period of employment happened. I’m dreading dealing with HMRC to get a tax rebate. And there’s still the permanent health insurance claim where somewhere inside the workings of my employer the system lost my paperwork.
I look at the sum received and worry about living too long. Yes, I want to blow the lot on travel but I’m highly likely to run out of money if I live beyond three years and spend at my current rate. That is a totally alien situation to Mr Responsible here who prides himself on good financial management. I might get to the point where travelling stops being a buzz, but I’m not there yet!
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