Get Up and Grow : 2012 old
Been retrenched? Being retrenched can be a big blow to your finances and self- esteem but it can also be a good opportunity to take another look at what you want out of your career, and your financial future. Some important issues to consider include: How will you best take advantage of your retrenchment package? For many people retrenchment could result in quite a significant windfall. A financial adviser can help you invest the money, minimise tax or assess the feasibility of starting your own business. Does your package include more than just a severance payment? Another important thing to remember is that retrenchment packages are often more than just a severance payment and can include other benefits such as outplacement or counselling services and time off for job hunting. How will you cover living expenses while you are looking for a new income? Unfortunately, some people including any workers under the Workplace Relations Act won’t be entitled to a retrenchment package. For these people, it may be a good idea to talk to Centrelink about registering for Newstart payments while you look for work. 5 Listen to Jonathon’s story play Click here to read more about retrenchment and job change.