Members

Protect is the only severance scheme offering two account options including access to tax-free payments if your job is made redundant

Severance options

Severance options - Protect: Severance and Income Protection benefits

Protect is the only industry severance scheme in Australia offering members the choice of two account options, including access to significant tax concessions if your job is made redundant.

Protect members can choose between two severance account options:
When you join Protect, the default severance option is a Protect Termination account.

This means severance contributions paid by your employer are automatically administered as a Protect Termination account.

If you choose to have your severance entitlement administered as a Protect Genuine Redundancy Account, this is an irrevocable selection.You cannot change your account type at a later date.

You need to complete a Protect Genuine Redundancy nomination form to select this account type. To obtain a copy of the nomination form, complete our enquiry form or contact Protect.

You should consider carefully your personal circumstances, and seek independent financial advice, before deciding which Protect severance account option suits your needs.