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Home Features Thought Leadership Super check: diverse careers require flexible funds
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TAGS Retirement, Financial services, Superannuation, career, super, Dixon Advisory
Public servants are enjoying more diverse careers than ever before. Your super arrangements need to be flexible to build a healthy retirement fund, warns Dixon Advisory.
Career paths in the public sector are changing significantly as the traditional demarcation lines between government and private sector have blurred. Modern public servants could find themselves exploring a range of roles and employment models during their career from a traditional departmental role to external consultant, secondment to a government-related entity, or a period gaining experience in the private sector or with a non-government organisation.
It’s all about government looking for the most effective and efficient channels to provide services to the community. A landmark study by the University of Melbourne School of Government last year found Australia was at the frontier of changes that could transform the activities of the public service and how it operates. Outsourcing of services is likely to result in a smaller public service, more focused on policy than service provision as demographics shift, new technologies emerge, and expectations of government shift.
Traditional career paths are also changing and it is unlikely many new recruits envisage a 30-year career with the same organisation. The report found traditional job boundaries were breaking down as more people seek portfolio careers and organisations look for individuals who can move from project to project rather than filling a defined role.
Like any change, this can seem alarming. But it also presents exciting opportunities for public sector employees to develop their skills and explore more varied and rewarding career options.
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Nerida Cole is managing director of the Financial Advisory division of Dixon Advisory. She's a highly respected expert on superannuation, including self managed super funds, retirement planning and wealth-building strategies.
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