Tax on retrenchment and pension

I have worked for a company for 10 years. I have never been retrenched before and my company pension fund is worth around R780K. I have been retrenched due to my division being closed. I have been offered a retrenchment package of R180K cash. How will this R180K be taxed and how will my pension be taxed if I withdraw it or if I move it?

Your pension will be taxed according to the Lump sum calculator for which your retrenchment package must be added too to work out the PAYE.

My calculation comes out at a tax payment of R 98 100

And then I received the pension and the retrenchment in cash. Is this correct?

We get an amount of R102 600 - however this should be the amount that you will pay over to SARS roughly. The company may take some other factors into account.

If you move the pension amount to a preservation fund then there will be no tax.