What is a public sector pension worth?

Disney, Richard, Emmerson, Carl and Tetlow, Gemma (2009) What is a public sector pension worth? Economic Journal, 119 (541). F517-F535. ISSN 0013-0133

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Abstract

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.

Item Type: Article
Schools and Departments: School of Business, Management and Economics > Economics
Subjects: H Social Sciences > HB Economic theory. Demography
Depositing User: Catrina Hey
Date Deposited: 10 Jun 2013 15:52
Last Modified: 10 Jun 2013 15:52
URI: http://sro.sussex.ac.uk/id/eprint/45190
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