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What is a public sector pension worth?

journal contribution
posted on 2023-06-08, 15:06 authored by Richard Disney, Carl Emmerson, Gemma Tetlow
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.

History

Publication status

  • Published

Journal

Economic Journal

ISSN

0013-0133

Publisher

Wiley-Blackwell

Issue

541

Volume

119

Article number

F517-F535

Department affiliated with

  • Economics Publications

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2013-06-10

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