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

Partner Insight: Distributing surplus to members

Partner Insight: Distributing surplus to members

Nick Coates, Associate Partner, Aon
clock 31 October 2025 • 5 min read
Six pension funds formally announce intention to join LGPS Central

Six pension funds formally announce intention to join LGPS Central

Pool set to manage £100bn with total number of partner funds to be 14

Holly Roach
clock 30 October 2025 • 4 min read
Partner Insight: Run-off insurance for trustees - What you need to know

Partner Insight: Run-off insurance for trustees - What you need to know

Susannah Calder, Partner, Aon
clock 29 October 2025 • 4 min read
Trustpilot