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Home News Public servants want to work forever (almost): new research
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PARTNERSState Super Financial Services
TAGS Defined benefit pension plan, Pension, Termination of employment, Personal finance, ageing
Having purpose in retirement is important to public servants. Lifestyle options around future work, volunteering, travel, housing and location have major implications for financial planning.
Only one in five public servants want to stop working completely when they leave government employment, according to research undertaken for State Super Financial Services.
The CoreData survey on the financial attitudes of 2500 public servants shows that despite common assumptions people want to just spend a carefree time in retirement, the reality is public servants are looking for activities and purpose when they retire from government.
Over 40% want to continue working either full or part time and more than half want to do some form of volunteering. Travel, socialising and recreational activity such as walking all rated highly as planned activities. Nearly half of respondents were looking to help take care of family and grandchildren.
Source: CoreData April 2014. Sample of 2496 public sector employees; the majority of those surveyed were in the 45-64 age group.
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Tom Burton is publisher of The Mandarin based in Sydney. He has served in various public administration roles, specialising in digital engagement. He was a Walkley Award-winning journalist and executive editor of The Sydney Morning Herald. He worked as Canberra bureau chief for the Australian Financial Review and as managing editor of smh.com.au. He most recently worked at the Australian Communications and Media Authority.
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