Sometimes redundancy is welcome, especially if you’re ready to move on and there’s a good financial package on offer. But for many, redundancy is a shock, both emotionally and financially.
Your employer may offer free support for your wellbeing and help you get ready to find another job as part of your redundancy package – so make full use of these if they are available to you.
Your employer may also have an Employee Assistance Programme (EAP) which offers free advice. If you’re in a trade union, you may also be able to speak to them for help and support through the process.
If these aren't available to you, we’ve put together a list of useful links and resources below to help you.
Your Legal & General pension
Just because your work situation has changed, your pension with us may not have to. Your pension plan is not only portable, it’s flexible too. There are a number of options available to you depending on your situation.
Whatever you decide to do with your pension plan, you’ll be able to take your money in a variety of ways at your selected retirement age or any time after age 55. The longer you leave your plan invested however, the more opportunity there is to benefit from any investment growth, although this can’t be guaranteed as the value of your plan can go down as well as up.
We're here to help you. If you have any questions about your pension plan, please contact us on 0345 070 8686. Lines are open from 8.30am to 7pm, Monday to Friday. Call charges will vary. We may record and monitor calls. Please be aware our helpline staff cannot provide financial advice. Alternatively, you can speak to a financial adviser, who may charge for their services.
MoneyHelper is part of the Money and Pensions Service.