The announcement of BNY Mellon’s Cork office closure, affecting up to 200 employees, has left many facing difficult choices. Redundancy brings uncertainty, financial pressure, and emotional strain. That’s why we’ve prepared this guide on BNY Mellon redundancy advice — to help you understand your rights, your redundancy package, and how to secure your financial future.

Your Preserved Pension: What You Need to Know

Many employees are unsure what happens to their preserved pensions after redundancy. Unlocking your pension can provide crucial financial flexibility during this uncertain time. Our experts, led by Dora Monaghan, will help you access your pension safely, quickly, and confidentially.

1. BNY Mellon Redundancy Advice: Understanding Your Package

When facing redundancy, the first step is reviewing your redundancy package. You’ll want to check:

• Statutory redundancy entitlements – based on years of service and weekly pay.

• Any enhanced company package – large firms like BNY Mellon sometimes offer more than the statutory minimum.

• Notice periods & unused leave – these may affect your final pay-out.

💡 Tip: Always request a written breakdown from HR so you know exactly what’s included.

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2. BNY Mellon Redundancy Advice: Pension Considerations

Redundancy isn’t just about your final pay-check — your pension is often your most valuable asset. Employees of large financial firms like BNY Mellon may have preserved or deferred pensions that can be:

• Unlocked early (in certain redundancy cases).

• Transferred into a more flexible personal arrangement.

• Left in place if that’s the best long-term option.

At Q Financial, we specialise in helping people unlock preserved pensions safely, ensuring you get full clarity on your entitlements.

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3. Managing the Emotional Side of Redundancy

Redundancy isn’t only financial — it can take a toll emotionally. Feeling stressed, anxious, or uncertain about the future is completely normal. Talking to a professional, keeping structure in your day, and exploring your options early can make a huge difference.

Remember: redundancy is not the end of your career story — it’s a transition point.

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4. Why Get Expert BNY Mellon Redundancy Advice

Making financial decisions under stress can lead to mistakes. With expert guidance, you can:

• Maximise your redundancy pay-out.

• Avoid unnecessary tax charges.

• Access pension funds safely.

• Build a clear plan for your next career step.

Our advisor, Dora Monaghan, has years of experience supporting employees in Cork and nationwide through redundancy. She’ll guide you with empathy and expertise.

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Take the Next Step Today

👉 Use our Redundancy Calculator above to see what you may be entitled to.

📞 Or Book a call with Dora Monaghan for confidential advice on your redundancy and pension options.