DB 'termination compensation' payment are taxable

Jenna Towler
clock

Cash payments made to Scottish and Newcastle employees to placate them over the loss of their defined benefit pension are taxable, the Court of Appeal finds.

SNR Denton said the decision highlighted the need for employers to consider all the reasons behind why a termination payment was made when deciding if it is taxable. The ruling in Kuehne + Nagel...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

Buyout no longer the default as sponsors review long-term pension strategies

Buyout no longer the default as sponsors review long-term pension strategies

IGG research finds only one in ten DB schemes are targeting buyout ‘as soon as practical’

Martin Richmond
clock 20 August 2026 • 2 min read
Partner Insight: Aon UK Risk Settlement Bulletin - Q3 2026

Partner Insight: Aon UK Risk Settlement Bulletin - Q3 2026

Latest edition of the Aon UK Risk Settlement Bulletin is now available.

Aon
clock 05 August 2026 • 1 min read
PIC completes build-to-rent development in Birmingham

PIC completes build-to-rent development in Birmingham

Specialist insurer has completed the development, One Eastside, which is the city’s tallest building

Alex Levy
clock 03 August 2026 • 1 min read
Trustpilot