Redundancy. How to plan for the unplanned.

It is estimated that the average Australian worker will face redundancy up to three times during their career and often, without warning.

Whilst no one plans to lose their job, there are measures that you can take now to minimise the impact of the change financially - the first stop is with your adviser to ensure that your financial house in order. For many, this is a review of your financial position, addressing cash flow and ensuring that both you and your family are protected as you search for new employment.

Your financial adviser can work with you to ease the stress through the transition into a new role, allowing you to continue to successfully manage your finances by:

• Reviewing your goals and objectives;
• Reviewing your cash flows to meet daily living;
• Reviewing your redundancy payment calculations;
• Indentifying and maximizing any taxation concessions available;
• Reviewing your personal insurances and ensuring that you have comprehensive protection;
• Reviewing your superannuation;
• Providing investment advice; and
• Reviewing your eligibility for Centrelink entitlements.

Seeking financial advice will help you to understand the options available to you and will allow you to take control of your financial position today.

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Please download the documents below to read more about redundancy.

Redundancy & Early Retirement

Redundancy & Early Retirement - over age 55 and account based pension

Redundancy & Early Retirement - under 55 and unemployment benefits