Whether you’re considering taking a voluntary redundancy or being made redundant, the idea of leaving a job and losing an income is a big change that can be very unsettling. But, with the right planning, it could also mean new opportunities like starting your own business, a new career or early retirement!
One common mistake we’ve seen members make in the past, is not seeking professional financial advice until after they’ve accepted a redundancy. Sadly, this has meant some members facing redundancy have missed out financially.
For our Retirement Scheme and Defined Benefit Scheme members decisions about redundancy can become even more complicated because of the added impact it has on your retirement benefit.
Getting good advice from the start can help ensure you make the right decisions and make a redundancy work for you.
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