"Finance and Pensions advice" is aimed at employees who want to explore what impact a career change will have on their current financial situation and future prospects, especially if it may involve part-time working or early retirement. The goal is to provide employees with transparent information about the potential financial or tax implications of a redundancy. In addition, this could also be an opportunity to discuss their overall financial strategy and consider any measures which may be recommended.
The following topics can be covered:
- recording present income and projected future income by amount and income type
- a comparison of future revenue and spending obligations
- an illustration of the opportunities for optimisation with regard to the type and duration of any redundancy payment, as well as information on tax- and social insurance-efficient usage strategies
The result is a transparent overview of future income and expenditure as well as an overview of the advantages and disadvantages of using the redundancy payment in particular ways, including any possible financial implications.
* Note: Support via external tax and pensions advisors