More and more public sector workers it seems are beginning to doubt whether any action they take, including strike action, will safeguard their pensions from government attack.
As well as industrial action public sector workers are turning to financial advice to help bridge any retirement income gap they think may be formed by government interference in their pensions.
The deVere Group, the world’s largest independent international finance consultancy group, has seen a ‘significant hike’ in the number of public sector workers looking for financial planning advice.
Their Chief Executive, Nigel Green, said “There’s a growing realisation amongst public sector workers that the Government may no longer be in a position to be able to look after them in retirement as it has in the past – and therefore they will need to take greater responsibility for their ‘golden years’ themselves.
“Since the Budget we have seen overall enquiries from public sector workers increase by 35 per cent. We fully expect this trend to continue as their concerns are ramped-up and brought to the fore during the proposed industrial action by teachers.”
“Those in the public sector are prepared to take to the streets to protest against what they believe is an ‘assault’ on their pensions, but an increasing number of them are simultaneously making enquiries to protect and maximise their retirement funds as they suspect that their protests could, ultimately, fall on deaf ears.” He added.