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Total Reward and pensions in the UK in the public and private sectors

journal contribution
posted on 2023-06-08, 11:57 authored by Alexander M Danzer, Peter DoltonPeter Dolton
Recent controversy has surrounded the relative value of public and private sector remuneration. We propose a comprehensive measure of Total Reward (TR) which includes not just pay, but pensions and other ‘benefits in kind’, evaluate it as the present value of the sum of all these payments over the lifetime and compare it for the highly educated in the UK public and private sectors. Our results suggest that TR is broadly equalised over the lifecycle for highly educated men while highly educated women have a clear TR advantage in the public sector by the end of their career. We suggest that the current controversy over public–private sector pension differentials and the perennial issues of public/private sector pay gaps requires a lifetime perspective and that the concept of TR is appropriate.

History

Publication status

  • Published

Journal

Labour Economics

ISSN

0927-5371

Publisher

Elsevier

Issue

4

Volume

19

Page range

584-594

Department affiliated with

  • Economics Publications

Notes

European Association of Labour Economists 23rd annual conference, Paphos, Cyprus, 22-24th September 2011

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2012-08-20

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