Unfortunately many Australians face the difficulty of being made redundant by their employer. Sometimes a choice is given to employees know as Voluntary Redundancy. On other occasions there is no choice and you may simply be told what is going to happen to you. Regardless of which circumstance you may be in, it is vital you seek professional financial advice. That's where Chifley can help.

We can provide information so that you can decide if the Voluntary Redundancy offer makes financial sense for you. Or, if you are made redundant, we can offer you information on how to get the best out of your payout and superannuation.

We also take into consideration Social Security and Investment issues, providing you with a comprehensive service to support you to make what may be one of the biggest financial decisions in your life.
 

FOUR EASY STEPS TO MAKING THE MOST OUT OF REDUNDANCY.
 

STEP 1. ASSESS YOUR SITUATION	STEP 2 PLAN
The first step is to meet with a financial planner who will look at your particular circumstances. Everybody is different so it is important to provide the planner with as much information as you can about your financial situation and the redundancy offer. The planner will collect information not only about your assets and liabilities, but also about your personal expectations. If the redundancy offer is voluntary, the planner will be able to help analyse the offer and your circumstances so that you can decide what to do. For some people a voluntary redundancy offer is a tremendous opportunity to fulfill their dreams of changing career, retiring early or starting their own business. For others it maybe a lot better if the person stays at work. The Chifley financial planner will discuss the financial impact or the options available, but naturally the final decision is up to you. If the redundancy is not voluntary or you have decided to accept a voluntary offer the planner will discuss with you the various investment strategies available, and explain the benefits and risks. Discussions about Social Security entitlements may also occur depending on your circumstance.	If the redundancy is to go ahead, your planner will prepare a financial plan specifically for you, based on the information you have provided at the first meeting. This will show you how to arrange your superannuation and other investment funds and also look at debt reduction options and the implications of the plan.
STEP 3 IMPLEMENT	STEP 4 FLEXIBILITY
You will be encouraged to discuss your financial plan with your Chifley planner. This is the opportunity to ask questions and perhaps discuss changes to your expectations. After all it is your plan, and it is important that you are comfortable with all aspects. Once you have decided to proceed, your planner will help you complete all the paperwork and make any other arrangements.	Circumstances can, and often do change after your redundancy. Your plan may result in an interim or holding strategy while you get another job. Alternatively, you may have taken redundancy and elected to retire, but your aspirations have changed. Whatever you're changing circumstances, you will continue to have access to your planner who can ensure your plan remains suitable to you. We will always be there to help.

HOW MUCH DOES THIS COST?

When seeking advice from Chifley there are absolutely no charges for appointments or financial plans. Charges are only ever incurred when a plan is implemented with Chifley, and all costs will be fully disclosed to you in your plan. It is also important to know that Chifley products have no entry or exit fees and our ongoing costs are amongst the lowest in Australia.

WHAT DO I DO NEXT?

If you are facing redundancy, please call us on 1800 800 002 and ask to speak to a financial planner.

SEMINARS AVAILABLE

Chifley is also able to provide seminars at work-sites for those facing redundancy. Obviously this will need the employer's approval. If you think this would help you and your colleagues ask the planner about this and we will see if we can help.