What is a Public Sector Pension Worth?
We measure accruals in defined benefit (DB) pension plans for public and private sector workers in Britain, using typical differences in scheme rules and sector-specific lifetime age-wage profiles by sex and educational group. We show not just that coverage by DB pension plans is greater in the public sector but that median pension accruals as a percentage of salary are more than 6% higher among DB-covered public sector workers than covered private sector workers. This is largely driven by earlier normal pension (retirement) ages but also by differences in earnings profiles across the sectors. Copyright © The Author(s). Journal compilation © Royal Economic Society 2009.
Year of publication: |
2009
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Authors: | Disney, Richard ; Emmerson, Carl ; Tetlow, Gemma |
Published in: |
Economic Journal. - Royal Economic Society - RES, ISSN 1468-0297. - Vol. 119.2009, 541, p. 517-517
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Publisher: |
Royal Economic Society - RES |
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