In this interview, Phumelele talks about the key things you should think about if you are considering taking a VOLUNTARY retrenchment package
Some of the topics she covers are;
· Is the 2 weeks of pay for every year of service really as attractive as it seems?
· Which debts should you pay or not pay, if your package is not sufficient to pay off all of your debts?
· How is your retrenchment taxed? Can you reduce your tax?
· Will your credit life / assurance policy pay your instalments if you take voluntary retrenchment?
· How can you reduce the pain of retrenchment on your children?
· What do you do about your life cover policy?
· Will your UIF pay?
Thank you to Mbuyiswa for phoning in and sharing his own experience with voluntary retrenchment