Redundancy Overview

Being made redundant at any time is a major financial headache, but with hundreds of thousands of jobs being lost because of the current state of the economy, the affects are even more acute as finding your next job may well take longer.

With all your efforts going into finding work to support your home and family it is easy to overlook important items that need your attention:-

First. You need to get to grips with the basics. Will you get a redundancy payment, how much will it be, will it be taxed, and is there any room for manoeuvre? Guidance will help you start off on the right track.

Next. You need to look at your family’s finances and work out how best to get through the coming period of reduced income. This may include managing debts, mortgage action, a fresh look at budgeting and what to do with any redundancy money.

For many people over the age of 50, looking for employment can be even harder and often jobs are taken on much lower wages than in previous careers. Following changes made a few years ago, there are ways of potentially easing the financial strain by utilising your Pension, even if you aren’t looking to retire.

There are a whole host of financial matters that need looking at and you may find it of great help to talk to one of our Independent Financial Advisers who can guide you through this difficult period and make sure you make the most of your money.

For a downloadable leaflet on our Redundancy Counselling services click here.

For further information on Employee and Redundancy Counselling Services see our Business Advice section

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