Losing your job

Keep nurturing your super account even when you’re not working.

Know your options 

A retrenchment payout will see you through for a while but it’s not going to last forever. It can all be quite challenging. And at the centre of it all is what matters most – you and your loved ones.

Fortunately, there are a few things you can do right now to get informed and take control. It’s all covered in AustralianSuper’s guide Creating the future you want (1.6 MB).

It tells you what’s included in your retrenchment payout, what tax you can expect to pay, what to do if your employer has gone bankrupt and more. 

It also covers how you can keep your super working for you, including keeping your insurance cover on track and using your super in an emergency.

Get help and support

Centrelink can tell you about Government allowances available to you. Applying for them as soon as possible can reduce any wait times.

You can contact Centrelink on 13 28 50. Visit the Australian Government’s Department of Human Services website and ASIC’s Moneysmart website for more information about employment services, income support and more.

Consider your budget

When it comes to loans and debts, talk to banks and others about payment plans. While you’re out of work, you may be able to make interest-only loan payments.  

Doing a simple household budget can help too. When you know where you stand financially, you’ll be in a better frame of mind when making big decisions, like going back to work or maybe even retiring.

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