They're amalgamating three departments where my DH works in about three years time, so luckily we have lots of notice. DH can:
i) relocate and keep his job - we didn't even have to discuss this one as we both knew neither would want to relocate to that area
ii) Early redundancy will offer a better package - DH prefers this option as he'll be around 55 and he knows the redundancy package usually reduces around 56/57. This will cover our mortgage and leave us with around £10,000. He can take his pension earlier, but it will be at a reduced amount. If not, he'll get around £12,000 when he's 67.
iii) Stick it out to the end and see what package they offer you, usually less then (ii) above.
Just wondering if anyone has any advice. Do we save, save, save so we have as much as possible put away, try and reduce the mortgage? Anything else we wouldn't think of? Does anyone have any advice, any do's or don'ts?
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Planning for redundancy in 2/3 years - any advice please?
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ifonly4 · 21/10/2016 14:56
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