Recently made redundant? Use the time to sort things out

| Share

By Des Sutherland from Mine Wealth + Wellbeing

With many in the mining community reeling from job losses, it's time to talk.

Any loss like this has a major impact. We might wonder 'why us', what we could have done differently and how in the world to tell family and friends. And while dealing with all of that, there are also some pretty important financial decisions to make, too. That’s not easy when anger, frustration, disappointment or other stress is taking hold.

The thing about all this stress is that it often prevents us from doing exactly what we need to do, like making calm, rational decisions. Some of us make rash decisions without considering the consequences, while others are trapped by inaction.

That’s why it’s important to talk to someone who knows the facts and can help us cut through the clutter.

At Mine Wealth + Wellbeing Financial Advice, we understand redundancies and have helped many members make sense of their next steps.

How can we help?

If you’re a Mine Wealth + Wellbeing member and have been made redundant, you’ve got a couple of options for support:

Option 1: Read the Redundancy Assistance workbook

This guide helps with the big issues:

  • know your rights
  • find financial and emotional help
  • consider your options for what to do with your redundancy payment
  • work out a budget to get you through
  • get tips when applying for a new job

You’ll find useful worksheets to help you decide what’s right for you and how to get the support you need. Even if you’d like to talk with someone, going through this workbook before your meeting can be helpful. Click here to access the workbook.

Option 2: Get advice over the phone or in person

If you need advice that’s more specific to your situation, the team at Mine Wealth + Wellbeing Financial Advice can help. Mine Wealth + Wellbeing members can get free super advice over the phone, as often as they need it. Face-to-face advice is offered at cost price and starts from $220 up to $2,750 a year for more complex needs.

We also understand you’ll want your budget to stretch as long as possible, so you might be interested in paying for super advice through your super account. That leaves you with one less expense to worry about.

Not a Mine Wealth + Wellbeing member?

You’re welcome to join and enjoy access to this advice service to get on track and start making confident financial choices.

More information

If you have any questions or need help understanding your redundancy, call us on 13 MINE (13 64 63), Monday to Friday, 8am to 6pm (AEST or ADST when in operation) or email This email address is being protected from spambots. You need JavaScript enabled to view it..

If you have a superannuation question for the experts at Mine Wealth + Wellbeing, and think the answer might benefit other Mining Family Matters readers too, please ask away!


More superannuation articles:

This is general information only and does not take into account your financial situations, needs or objectives. Before acting, you should consider whether the information is appropriate for you and read our Product Disclosure Statement (PDS). If there’s any inconsistency between this document and the PDS or Trust Deed the terms of the PDS or Trust Deed prevail. This information is based on our understanding of current Australian laws and assumes they will remain unchanged.

Issued by AUSCOAL Superannuation Pty Ltd ABN 70 003 566 989 AFSL 246 864 Trustee for Mine Wealth and Wellbeing Superannuation Fund ABN 16 457 520 308. Mine Wealth + Wellbeing Financial Advice is a trading name Mine Wealth and Wellbeing Services Pty Ltd ABN 49 051 315 014 a Corporate Authorised Representative of Adviser Network Pty Ltd ABN 25 056 310 699 AFSL 232729.