Coping with redundancy

AMID the good cheer last week about the 13th consecutive monthly fall in the number of registered unemployed, a note of caution.

Last month's fall does not mean that people are not still being made redundant, as 1,350 workers at British Aerospace's defence division will bear witness, after being told their jobs will go.

Inside Money, a monthly financial magazine, has published a practical guide for people who are facing redundancy.

Among its tips are:

q Register for unemployment as soon as possible, to ensure that your National Insurance Contributions and your pension entitlements remain up-to-date.

q Prioritise bills. Insurance premiums first, then write to creditors offering more manageable monthly payments.

q Those with personal loans should check to find out if they have redundancy insurance.

The magazine also casts a more lighthearted look at other areas of finance, including 10 ways to beat the bookies and whether bar codes on consumer goods are a sign of the devil.

Inside Money costs £2.25 a month, but, in a special deal for Independent on Sunday readers, the magazine is making available 1,000 copies free - by calling Freefone 0500 676 677.

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