Many employers wish to factor in the provision of personal financial advice for staff ahead of implementing a voluntary severance programme. This advice is also commonly made available when early retirement is being offered or, indeed, in the normal course at retirement. Click here for more information.

The complexity of the voluntary severance or retirement package combined with other employee benefits, in particular pensions, means that few people in this situation are properly able to weigh up the financial costs and benefits. 

We are able to help with financial education seminars. Thereafter, one-to-one meetings with those employees seeking advice would be available, followed by a comprehensive personal financial planning report summarising their situation, ‘best options’ and highlighting those areas of planning that should be reviewed.

Few people are able to weigh up the financial costs and benefits.

The fear that individuals may be making a costly financial mistake can hold many people back from taking voluntary severance or early retirement, so that providing upfront advice can do much to smooth the process of such a programme. 

Organisations often provide financial counselling after people have accepted voluntary severance or early retirement, but we believe it is vital to help employees have a sound understanding of the full financial impact before making a decision. 

This is especially so for both older and senior employees whose financial situations are likely to be more complex.

For more information on how we can help click here, or contact paul.bennett@scott-moncrieff.com or by phone 0131 473 3500.

 

Contacts

Andrew Cumming