At Incolink, we are committed to helping workers through the tough times. It's nice to know we've got your back and your redundancy entitlements are there for you when you need them.
Incolink offers a safety net for members by providing unemployment income security as well as a range of benefits and services.
We offer two types of redundancy accounts giving the flexibility for workers to choose how their redundancy funds are treated.
Types of Incolink accounts
- Incolink Severance Account — the default account for Incolink worker members that provides access to funds for workers if their employment is terminated for any reason. Severance termination payments are taxed at the concessional tax rate.
- Incolink Genuine Redundancy Account (GRA) — enables workers to claim a genuine redundancy payment if their employment is terminated because their position is made genuinely redundant, at a nil or reduced tax rate. Other situations where payments from an Incolink GRA may be claimed include permanent disability and death. (Note that you must be made genuinely redundant to claim on this type of account).
For more information on the benefits of Incolink membership please refer to the Incolink Services Handbook or talk to our friendly Customer Service team.