- Thursday 04 September 2025
Redundancy announcements can feel overwhelming. Alongside the shock, there are questions about your rights, your redundancy package, your pension, and how to protect your family’s financial security.
We specialise in helping professionals through transitions like this. Here are five practical steps to take right away.
1. Know Your Rights
Your first move isn’t financial — it’s legal.
- Understand the difference between statutory and enhanced redundancy.
- Check what you’re entitled to, including tax-free thresholds.
- Don’t sign anything until you’re clear on the details.
2. Understand Your Package
Your redundancy package is more than just a lump sum.
- Check the tax treatment of redundancy payments.
- Confirm the timing of bonuses and commissions.
- Review your shares or RSUs — what vests, what doesn’t, and what’s at risk.
3. Maximise Your Pension
Redundancy can create pension opportunities that are easy to overlook.
- Extra contributions may help reduce your tax bill.
- Review all existing pension arrangements.
- Avoid missing valuable reliefs that could strengthen your long-term position.
4. Protect Your Cashflow
Security starts with stability.
- Aim to cover 3–6 months of essential expenses.
- Prioritise mortgage payments and essentials.
- Press pause on big spending until you have clarity.
5. Plan Your Next Chapter
A financial plan helps you see the road ahead.
- Know how long your package will last.
- Build in time for reskilling or a career move if needed.
- Stress-test different scenarios to avoid panic decisions.
Redundancy is tough, but it can also be the space to reset. With the right financial plan, you can:
- Make your package last.
- Protect your family.
- Step into your next chapter with confidence.
