Made redundant at 55? How to survive if all your savings are in super

October 11, 2026 — 4:00am

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I’m 55 and ideally, I’d work another 10 years. My savings focus the past few years has been to salary sacrifice to super. There are some rumblings at work about redundancies, and now I’m worried that I’ve locked up all my savings, and if I get laid off, I’ll be in a tough spot – plenty in super, but I can’t touch it. Should I be changing my strategy?

Thanks for your question. Certainly, a stressful situation to be in.

If you are made redundant, you will get a payout that will provide a cushion for some period of time, during which, hopefully, you will find another position.

It can be wise, though, to hope for the best but plan for the worst. In this case, the worst is that you are made redundant and can never find paid employment again. That’s fairly improbable, but if we can find a........

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