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Job fear for 1 in 10

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Written by:
09/08/2006

One in every 10 Brits (2.9m) fear their jobs are in imminent danger and are concerned for their future. Yet many of them – over a third of the UK population – say they have little or no savings to tide them through should they lose their job or become unable to work.

Nearly a fifth of Britain’s workforce was signed off last year with a long-term illness. While some companies may continue to pay a salary for a limited period, others may not. Plus the country’s unemployment levels are at a four year high.
Yet despite this, most people have not taken any action to protect their finances, with the result that millions are living from one payday to the next with no financial back-up.

Angus Maciver, business director of insurance, Prudential, said: “No-one likes to think that they could get a severe illness or lose their job, but what if the ‘unthinkable’ happened? These times would be difficult enough without having to worry about covering the mortgage and potentially losing your home. Yet without any savings or protection, many people put themselves in this vulnerable position.”

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