Tax deduction on lump sum payout for GEPF

W

WAslayer

Executive Member
Joined
May 13, 2011
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My mother was recently widowed, awaiting payout of the GEPF spouse benefit.. However, no one seems to be able to explain how the tax deduction on the payout will be..

I have only been able to find what seems to be the tax deduction for retirement withdrawal..

Anyone know what the tax percentage will come to..?
 
supersunbird

supersunbird

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Joined
Oct 1, 2005
Messages
60,141
WAslayer said:
My mother was recently widowed, awaiting payout of the GEPF spouse benefit.. However, no one seems to be able to explain how the tax deduction on the payout will be..

I have only been able to find what seems to be the tax deduction for retirement withdrawal..

Anyone know what the tax percentage will come to..?
Click to expand...

Was your father already retired?
 
supersunbird

supersunbird

Honorary Master
Joined
Oct 1, 2005
Messages
60,141
WAslayer said:
This is the calculation I found but, wasn't sure whether this still applied when paid out to the widow as well, cause I found it on another source that wasn't clear..
Click to expand...

Well, a death benefit cannot pay out to the deceased. I'm not expert though, so just going by logic.
 
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