Redundancy and early retirement have become common in an environment of constant and rapid change in work practices.

When employment is terminated as a result of genuine redundancy or an early retirement scheme, you may receive a number of different employer payments. These could include:-:

• Payment in lieu of notice
• Unused annual leave and/or long service leave
• Severance pay, including ex-gratia payments and "golden handshakes"
• Superannuation benefits
• Other entitlements, including employee share plans or payments as a result of early termination of a contract

Redundancy can inevitably lead to financial and emotional stress. Unfortunately, it is during this most stressful time that many important personal and financial decisions need to be made. Some of the things that you may need to consider include:

• What you should do with your payout.
• How you will cope with ongoing financial commitments such as your mortgage repayments.
• Where to invest your superannuation benefits.

We can provide advice to help you manage this potentially difficult and stressful time by helping assess your needs, developing appropriate strategies and making the right investment choices regarding lump sum payments, superannuation, taxation and social security entitlements.