Redundancy…..it’s not all bad news – what to do with the money?
It’s not all bad news…If you are leaving your employer due to redundancy, you have a great opportunity to make a fresh start. Now could be the best time for you to think about a career change, become self-employed or consider retiring if you are close to retirement. Firstly, you must ensure that you know what type of payment you may be entitled to receive. The types of payments you may receive in the event of a genuine redundancy include: A genuine redundancy payment, which is tax-free up to a limit based on your full years of service with your …