Managing redundancy

No one plans to lose their job but unforeseen or even a predicted redundancy can create a dramatic impact on your lifestyle and retirement goals. It can cause financial and personal stress to you and your family.

 

Before you make hasty decisions that can cause damage to your long term goals, get the appropriate professional financial advice of what the best course of action is for your specific circumstances. See what you may be entitled to from your employer prior to termination date, what tax considerations need to be catered for, what strategies can be applied for your superannuation that may assist in your transition and if and when you can qualify for financial assistance from Centrelink.

Other questions to consider:

 

  • Will your mortgage lender assist with a restructure of your debts, apply a payment holiday?

  • How long will your redundancy payout last to cater for debts and lifestyle expenses?

  • What to do with your superannuation if provided by your employer?

  • Does your insurances held within your superannuation cease if no contributions are made?

  • What is the process when you are employed again?

  • How will your employer benefits be affected, E.g. share plan, novated lease and pre-tax arrangements in place?

  • Is your CV up to date to commence the next stage of employment?

  • Can you afford to take a break before you commence a job search?

  • Is your redundancy a windfall and an opportunity for change?

 

At CDN Financial Services we can help you understand the best options available to your personal situation, to enable the best outcome for you.

 

Contact us to organise an obligation free first appointment to explore the opportunities available to you.

Phone: (08) 9274 0690
Email: info@cdnfinancial.com.au

Colin de la Nougerede and Colwen (WA) Holdings Pty Ltd ATF Del Family Trust t/a CDN Financial Services are Authorised Representatives of Sentry Advice Pty Ltd AFSL 227748.