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What is a public sector pension worth?
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posted on 2023-06-08, 15:06 authored by Richard Disney, Carl Emmerson, Gemma TetlowWe 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.
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Publication status
- Published
Journal
Economic JournalISSN
0013-0133Publisher
Wiley-BlackwellExternal DOI
Issue
541Volume
119Article number
F517-F535Department affiliated with
- Economics Publications
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- No
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- Yes
Legacy Posted Date
2013-06-10Usage metrics
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