Changing jobs


We spend a huge amount of our time in the workplace and so changing jobs can make a big difference to our quality of life. It can also have a significant impact on our finances and if you have just changed your job or role, then it is probably a wise idea to review your financial plans to ensure that they still meet your needs.

Things to consider

Often a change of jobs means a change in salary. This may mean tightening your belt or reviewing your spending. Or you may now be earning more and therefore have developed a larger disposable income. In this case, it is often a good idea to contrinute more to your savings or perhaps increase your pension contributions.  It is a good idea to review your budget How to prepare in light of this.

A lot of jobs come with benefits such as death in service, sickness cover, private medical insurance and if you work full time a pension. Some employers will expand their benefit provision to cover partners and dependants, others may not. Changing your job can mean a change in benefits and so you may wish to change your own personal provision to compensate and thus ensure you have the right cover for your needs.

If you have become self-employed you might want to look at pension and protection provision for you and any one you employ. Seeking an adviser for this can ensure that your business is covered and also compliant with the law on employer pensions.

Most employers offer a pension plan and people who have changed jobs a few times often have a number of different plans with differing funds, charges and totals, so it might be an idea to discuss these with an adviser to see if they are suitable for your needs or you would benefit from transferring them elsewhere.


You might want to consider a professional who advises on some or all of the following product areas: Investment, Insurance, Pension and/or Protection.