Being made redundant can be a huge challenge and speaking to a qualified, fully independent financial adviser can play a vital role in helping you adjust to your new circumstances.
Figures from the Office for National Statistics show redundancies reached a record high of 314,000 between July and September. This is up 181,000 from the previous quarter.
Redundancy can be a daunting prospect, especially if you are approaching retirement. A recent study by Standard Life found that one in three over-55s would retire earlier than planned if they were made redundant during the Covid-19 crisis.
Speaking to one of our fully qualified and independent adviser could provide peace of mind and assist with the decisions you are making. Parker Kelly Financial Services could offer peace of mind to you if you have been made redundant, helping you to evaluate your pensions or negotiate any tax planning* implications.
We adopt a holistic approach, to understand your situation and get as much information about your circumstances as possible. From there we start looking at tax planning*, pensions, investments or re-mortgage/equity release*.
Cash flow modelling* can identify any potential shortfalls in your income and we can help draw up a new plan if needed. It is then about looking at tax planning* and using pension contributions to reduce the tax bill if it is a large redundancy pay-out.
Redundancy can be such a life changing event that it may be necessary to reassess the suitability of your pension, ISA or other investments. You may not be able to take the same level risk and may have to re-position their portfolio.
The initial meeting with one of our advisers is free and during this meeting we can provide guidance and an overview of your options.
*Cash flow modelling, tax planning and some forms of equity release are not regulated by the FCA.