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  1. #11
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    Subbing, I'll be back to add my experience.

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    aquarius  (20-07-2014)

  3. #12
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    I'm confused, I didn't know one could get an income protection that would cover redundancy?

    I know mine doesn't cover it and couldn't find one that does.

    Would love it if someone can share their policies

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    aquarius  (20-07-2014)

  5. #13
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    I was thinking the same thing Excusemyfrench....

  6. #14
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    Quote Originally Posted by ExcuseMyFrench View Post
    I'm confused, I didn't know one could get an income protection that would cover redundancy?

    I know mine doesn't cover it and couldn't find one that does.

    Would love it if someone can share their policies
    You can, they only cover involuntary redundancies though. Ours was thru our super fund

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    aquarius  (20-07-2014)

  8. #15
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    Quote Originally Posted by Pandamonium View Post
    You can, they only cover involuntary redundancies though. Ours was thru our super fund
    which super?
    I have income protection through my super too and it only covers injury or illness.

  9. #16
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    There's one advertised on TV, it covers involuntary redundancy. Can't remember the name though.

    I was made redundant a few years back but because I'd only been there just over a year my package wasn't too big (they closed the whole office down and moved it interstate). I would recommend getting your cv up to date and start browsing for other positions now. See what's out there. Check your contract as well that will give you a better idea of what your entitlements will be upon redundancy. It will also give you an idea of where you'd stand financially and how long you can take to find another position if the redundancy occurs.

    Good luck I hope it's good news for you!

    Sent from my GT-I9507 using The Bub Hub mobile app

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    aquarius  (23-07-2014)

  11. #17
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    I was made redundant when on maternity leave with DS1, the company I worked for hit major financial issues.

    But it worked out in my favour as I didnt want to go back, so I got a nice payout and I got to stay home with DS1 during the day and get a night job.

    Sent from my GT-I9505 using The Bub Hub mobile app

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    aquarius  (23-07-2014)

  13. #18
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    If u think it might happen go get redundancy insurance now

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    aquarius  (23-07-2014),spoon  (21-07-2014)

  15. #19
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    My DH's income protection covers him for involuntary redundancy. He is with AMP and his super fund . It's a split policy .

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    aquarius  (23-07-2014)

  17. #20
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    I was made redundant from my first office job about 12 years ago. Although I had no warning it was going to happen, I'd actually considered it might be a possibility. I wasn't busy at all and I felt it was only a matter of time before they realised they could do without me! The company decided to close our small office and centralise all administration interstate.

    When they told me, I was advised they weren't closing the office down for a few months, so I had time to find another job. They were supportive of me going to interviews whenever I needed to. I ended up taking 3 weeks off just for some 'me' time, then returned to my job and started looking for other roles on company time.

    I got the first job I had an interview for, so I gave notice and I received around 6K for my redundancy payout. I was pretty happy with that, considering I worked there less than 2 years.

    I ended up miserable at my new job (I was misled about the role I was taking on) and ended up resigning after a few months. The redundancy money really came in handy then, as I was unemployed for about 6 weeks in between starting another role.

  18. The Following User Says Thank You to Mod-Degrassi For This Useful Post:

    aquarius  (23-07-2014)


 

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